First Single Family Home

[Nathan Sandlin]

Investment Info:

Single-family residence buy & hold investment in Indianapolis.

Purchase price: $110,000
Cash invested: $4,500

Originally purchased as a forever home, tried my hand at managing my own property and hasn't gone so well. After finding BiggerPockets and using some of the knowledge I have found therein, I am looking to fix it out and get it rented with my PM to get it cashflowing positive.

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

Originally bought as a primary residence.

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

Through a realtor.

How did you finance this deal?

Conventional loan 3.5% down

How did you add value to the deal?

replace floors, paint, fix minor issues

What was the outcome?

Almost there!

Lessons learned? Challenges?

If you don't know, don't be afraid to find people that do to help! I was terrible at the property management side, but I found someone that was able to help me find a solid PM to get things rolling.

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

Real Estate Investor - Nick Giulioni
Property Manager - David Gummere/Indy Phoenix
Lender - Travis Cartmel/The Cartmel Group