All Forum Posts by: Ryan Eder

Investment Info:

Single-family residence buy & hold investment in Wilmington.

Purchase price: $161,000
Cash invested: $36,000

Finally found one, took over a year found a great home downtown for a great price. Inspections all came back great. Single family 3bd 2ba

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

Growing area, property values are increasing, wanted to get in while we could still afford to do so.

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

Realtor

How did you finance this deal?

FHA

Investment Info:

Single-family residence buy & hold investment in Wilmington.

Purchase price: $182,000
Cash invested: $40,000

First Property!

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

Time on the market and the area the home is located.

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

No difficult. required a little back and forth with the seller and ultimately I was able to get them down to a price I wanted as well as having them kick back a little money towards closing.

How did you finance this deal?

Conventional Loan

@Claudia Becerra I was actually faced with the same issue. I just recently formed an LLC and with no credit history I was unable to get a loan through my LLC. What I'm doing is getting a loan in my name and then transferring the loan to my LLC. Be sure to asking about any assumptions on the loan and if there is any type of demand feature on the loan that would allow the lender to require early repayment. I'm working with Guaranteed Rate, Good Luck!

Tony,

I'm just starting out myself and I've begun networking with realtors in the area.  They know what I'm looking for and how much I'm looking to spend.  I get updates from them on a regular basis especially now that I'm ready to buy.  They are an invaluable tool, they know the areas better than I do, can keep me up to date on what I can get for rent in certain areas and keep me in the areas that will be more profitable.  Good Luck!

The wife and I are looking to buy our first property.  Right now we have an opportunity to buy a single family 2 bd 1 bath downtown.  The house is in an area that is going through gentrification.  Close to a college and breweries as well as a close walk down to the river where everything is happening.  The seller is asking 125k which is well within our price range.  Our other option is 180 degrees out from the single family downtown.  It's a 2bd 2ba townhouse close to 2 military bases and is listed at 57.5k.  Right now I think I'm leaning towards the downtown house based on the fact on how quickly the area is changing which will lead to property value increase as well as increased rent prices.  Just looking for everyone's thoughts and opinions.  Thanks!

I'm in the process of looking for my first investment property.  I'm 31 right now the wife and I got the bug when we were offered the opportunity to purchase a bridal suite, wife is in the business and she was very interested.  Long story short it wasn't for us but I've got the bug now and have been reading and hunting.  It's exciting and I'm becoming obsessed to the point where I'm dreaming about investing in real estate.  Looking forward to closing on my first property!  Good Luck!