Fort Worth House Long Term Hold
Investment Info:
Single-family residence buy & hold investment in Fort Worth.
Purchase price: $137,500
Cash invested: $14,000
Bought in 2006 w/ conventional primary residence financing, relocated due to job, and rented the property ever since. Though I have substantial equity, it cash flows very nicely and will likely stay in my portfolio for awhile longer.
What made you interested in investing in this type of deal?
2006 Real Estate Frenzy!
How did you find this deal and how did you negotiate it?
REA
How did you finance this deal?
80/10/10 to avoid PMI. I later refinanced in 2015 at much lower rates and paid off the balance of the 10% second mortgage note.
What was the outcome?
Consistent rental in a well performing area. Love this SFR!
Lessons learned? Challenges?
Start your investment career early on! The greatest passive wealth building comes from long term appreciation and the market cycle. Get rich slow!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Trevor Dyck