First buy and hold in FL

[Nick Johnson]

Investment Info:

Single-family residence buy & hold investment in Ormond Beach.

Purchase price: $170,000
Cash invested: $45,000

Off-market (right before it was to go to MLS) deal via my realtor.

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

Been looking in this area (where I grew up) for years. Quickly growing, affluent town.

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

Off-market (right before it was to go to MLS) deal via my realtor.

How did you finance this deal?

Conventional financing, 20% down

How did you add value to the deal?

No roof and electrical

What was the outcome?

Cash flow positive, tenant in place already.

Lessons learned? Challenges?

TBD