3rd Home in 10 months!

[Stephen Karagosian]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $300,000
Cash invested: $20,285

A woman from work told my wife and I that she was planning on moving out of state for a job and wanted to sell her home. She wanted hard money and was planning on not using a realtor. I quickly went to work looking for a hard money lender and was approved for $295k to purchase this house.

Ultimately we agreed on a purchase price of $300k for the home which resulted in having to come out of pocket for only $20k. We closed in May 2021. Currently we are in the process of refinancing, and comps for the area are about $425k. We are renting the home out for $2230/mo.

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

Off-market

How did you finance this deal?

Hard money

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

Bryan and Lana Rodriguez (realtor)