Long Term Property Investment

[Mario Valenzuela]

Investment Info:

Single-family residence buy & hold investment in Phoenix.

Purchase price: $295,000
Cash invested: $40,000

After loosing my shirt and investment property in the 2008 housing crash I have recouped my finances and have started investing in real estate again.

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

It was a tough one considering the current state of the market with prices being so high. However after reviewing the details of the property and the markets trajectory I believed this to be a good deal. There were a lot of ups and downs with this deal, but in the end I was able to get it done. The sellers were playing hard ball, which was there right with the market and all, their agent put some of his commission into the deal to make it all work. It was a nail biter for sure!

How did you finance this deal?

I saved money where I could until I had enough for a down payment, and financed the rest through a conventional mortgage.

How did you add value to the deal?

I put my commission into the deal to give the sellers a break.

What was the outcome?

I was finally able to get the house!

Lessons learned? Challenges?

It was actually really good clinic on how to deal with very difficult sellers, I'm glad this was my deal and not a deal I was working for someone else.

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

Yes, the agent was very helpful where he could be, he went above and beyond the call of duty on his part.