Investment Info:
Single-family residence buy & hold investment in Mars Hill.
Purchase price: $86,000
Cash invested: $16,000
2nd property purchased in Mars Hill.
2/1
Could be STR or LTR
Currently updating
What made you interested in investing in this type of deal?
Love the mountains and this area. Already had one home here doing well as a STR and wanted another.
How did you find this deal and how did you negotiate it?
Local agent in area was keeping eye out for me. This house had been on market for awhile and owners just wanted to unload as they never used it. Came in with really low offer during a time where market doesn't move much going into cooler seasons.
How did you finance this deal?
Traditional financing with 20% down
Lessons learned? Challenges?
I truly thought there was no way they would accept. Don't doubt an offer until you make it. Challenge is managing a property 4 hours away.
