First Rental property

[Mitchell Hokanson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $105,000
Cash invested: $21,000

Cash flow after management fee and great location.

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

Starting out small to understand the fundamentals. Then build portfolio up to multiple doors (5+ doors).

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

Turnkey company

How did you finance this deal?

Traditional lending

How did you add value to the deal?

Made the process easier and help with any documents as quickly as possible.

What was the outcome?

Smooth and easy process and excited to start.

Lessons learned? Challenges?

Still finding those out. A lot of expense in closing on the property.

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

Curt Davis in Tennessee.