First Real Estate Deal

[Sheldon James]

Investment Info:

Single-family residence buy & hold investment in Hattiesburg.

Purchase price: $62,000
Cash invested: $7,000

Short term rental (Airbnb)

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

Found on the MLS as soon as it was listed. Made a full price cash offer before anyone else and set to expire at the end of that same day.

How did you finance this deal?

Private money loan

How did you add value to the deal?

Did a heavy renovation, furnished the property, and self manage as a short term rental for more cashflow

What was the outcome?

This property has been a great cash flowing rental in an area that is appreciating quickly. Looking to hold on to it for many years

Lessons learned? Challenges?

This deal got me started on my real estate investing journey. This deal alone will not make me financially independent but I will reach financial independence because of this deal.

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

I worked with an expert Realtor to advise me on the purchase.