Getting Started through tragedy

[Barbara Wilson-Scranton]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $73,000

This was an inherited house. We decided to rent it out. We are using the equity in the house to fix and remodel another inherited house that is already cash flowing but will cash flow exponentially more within the next 3 months.

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

We fell into this situation and decided that this is the best position for our future.

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

The lose of a loved one. There was not negotiation.

How did you finance this deal?

We used our local Credit Union. However, we are refinancing with the local economic development for a much better interest rate to use the equity on our second and third doors.

Lessons learned? Challenges?

Losing Family sucks, but when they give you all that they worked their lives for, it is their final gift to you. What you do with it after that is up to you. Use it and continue to grow, or sell and (Pardon my toned down language) piss it away.