Our First Property is Now Official

[Stacey Bochenski]

Investment Info:

Single-family residence buy & hold investment.

We picked up a 2/1 SFH as a buy and hold investment in Huntsville, Alabama.

How did you find this deal and how did you negotiate it?

While interviewing Property Managers, one mentioned a deal she had just received from a wholesaler. We offered about 7% under asking and it was accepted. She forwarded the details and we made an offer the next day. It was accepted the same day with a 7 day escrow.

How did you finance this deal?

Private money loan.

How did you add value to the deal?

We will put approximately $7k into it and rent it out at a rate that exceeds the 1% rule (1.2%).

[Stacey Bochenski]

@Matthew McDermott Thank you!  I'm very excited to be here, finally.  I've been learning and researching for a while now and am so excited to have finally pulled the trigger!

@Ankit Garg It was a loan from a family member who is familiar with my ambition and drive and trusts my decisions making and investment choices.  I can't recommend him because he wouldn't do it for someone he doesn't know (it took several conversations and a bit of convincing).  However, I definitely recommend the idea of private money.  It allowed me to have a cash offer and a short escrow, which I think really got me points with the seller.