Pathway to Purchase and spend nothing out of pocket

[Jaime McGalliard]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $142,000

We used Pathway to Purchase to buy and hold a property. Drawbacks are you cannot turn them into rentals for a year so they have to start as your primary residence.

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

The perk to using this deal was purchasing a property without any cash down or to close the deal.

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

Home was active on MLS, offer was made and accepted.

How did you finance this deal?

Pathway to Purchase FHA

How did you add value to the deal?

Since the home cannot be rented for a year it allowed the year for improvements to drive up rental income.

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

As an agent I work closely with a handful of lenders; however, Todd Craig at NOVA home loans helps to advise on these situations.