My Huntsville Investment

[Joshua Hernandez]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $117,000
Cash invested: $20,000

In 2019 I partnered with my parents to purchase our first investment property. in return for the funding my responsibility would be to manage the property and my reward would be any positive cash flow

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

This was about the time I started listening to bigger pockets. Our time frame allowed me to househack this home while I finished college.

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

We used a realtor and asked 10k under list. we got the property and thank goodness we did. While not a horrible investment, it could be much better.

How did you finance this deal?

family funding (gift) for the down payment and then financed the rest.

How did you add value to the deal?

In return for funding I manage the property

What was the outcome?

We still hold this property to this day and I am eager to use it to leverage our next deal in a few years.

Lessons learned? Challenges?

even at a discount we overpayed for this property. It passes the 1% rule but the locatation and condition of the property my stagnate our income potential until some serious work is done. The biggest challenge was making repairs and fixing this property on a broke college kid budget. Nowadays I can handle most repair issues.