first home purchase for rental investments
Investment Info:
Single-family residence buy & hold investment in Maumelle.
Purchase price: $116,000
Cash invested: $25,000
3 bed 2 bath single car garage, fenced backyard
What made you interested in investing in this type of deal?
needed place to live
How did you find this deal and how did you negotiate it?
realtor friend. offered pay off
How did you finance this deal?
conventional loan
How did you add value to the deal?
learned a lot about closing, the area, and what to look for when i made a walk through of the property
What was the outcome?
purchased it, lived in it, and now renting it
Lessons learned? Challenges?
negotiate more or walk away
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
robert richardson, he is a realtor