Investment Info:
Single-family residence buy & hold investment.
Purchase price: $317,500
Cash invested: $30,000
Medium term, 4 bed 2 bath. Updated, new roof 2023, new hvac 2023, electrical panel rewired 2023.
What made you interested in investing in this type of deal?
A friend who has experience in real estate.
How did you find this deal and how did you negotiate it?
Through my colleagues real estate agent.
How did you finance this deal?
Traditional bank financing.
How did you add value to the deal?
Using bigger pockets to run comps and the expertise of local agents/prop managers.
What was the outcome?
A year of learning and gaining confidence.
Lessons learned? Challenges?
You can run the numbers all you want, you won’t know until you do it. Don’t expect to make money your first year. If you’re a long distance investor you will have to learn how to manage the stress of not being there, networking is the key. If you can manage one from far away you can certainly manage one in your backyard. Skip the home inspector and get professionals to inspect the areas of your concern.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nadia Daggett- property manager.
