First Buy and hold deal

[Carlos Villalta]

Investment Info:

Single-family residence buy & hold investment in Lancaster.

Purchase price: $12,000

Purchase this property from an wholesaler who did not want to deal with it anymore since he had to much in his inventory. Paid cash for it then sold it to an actual investor.

What made you interested in investing in this type of deal?

Good price

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

My mentor sid found it for me, he handled all the paperwork we went 50/50 so it worked out It was a vacant house. 

How did you finance this deal?

Paid cash that I pulled from my 401k

How did you add value to the deal?

Marketing strategy

What was the outcome?

Sold it fast

Lessons learned? Challenges?

Always put Jesus first no matter what and don't be afraid to partner up because it's money you wouldn't have had if it wasn't for your business partner. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I did not