1st Investment purchase to get off the Fence! and it worked!

[Keith Hill]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $88,000
Cash invested: $25,000

1st investment to get us off the fence! It worked.
20% down, conventional residential loan.

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

A necessary purchase to get us off the fence. This was our first purchase after having listened to BP podcasts for about 18 months; joined BP community in September of 2018.

How did you finance this deal?

Conventional residential loan, 20% down

How did you add value to the deal?

Added about $2500 of our own money for very light cosmetic updates and did the work ourselves.

What was the outcome?

Rented within 5 weeks after purchase.

Lessons learned? Challenges?

It was easy. Easier than we thought, yet we left more money in it than we wanted...so on to find a BRRR!

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

I have been a full time REALTOR for 13 years in the Central Arkansas market (Keller Williams Realty).