My first property!!!

[Devon Memis]

Investment Info:

Single-family residence buy & hold investment in Lansdale.

Purchase price: $165,000

Currently working on my first BRRRR

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

I saw this post on the MLS a day before it went on the market. I noticed it was severely undervalued, so I had to take a look. I was interested as it was close by to my current residence and it was listed at a price that was comfortable to me.

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

Found this deal on the MLS.
I bought this house 16k over asking price through an escalation clause, and waived the inspection. My father is a retired union carpenter, so he did an inspection for me.

How did you finance this deal?

Conventional 10% Down Payment

How did you add value to the deal?

The house was appraised 10k over my purchase price. Additionally, I am working on a full kitchen and bathroom rehab

What was the outcome?

I am still working on the rehab now.

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

Worked with a great agent in the Philadelphia area, Josh Pagan. I would highly recommend him.

[Eric Greenberg]

Congrats on the first property!