My first property as a 22 year old
Investment Info:
Condo buy & hold investment in San Diego.
Purchase price: $125,000
Cash invested: $7,500
Found a long term rental not knowing at the time it would benefit me as much as it has.
What made you interested in investing in this type of deal?
I was in a position at 21 years old to rent an apartment or buy a property. I was pressured into moving out of my parents house as the house was in foreclosure. So I bought my condo thinking of keeping it longterm and it has been a blessing having found it almost ten years ago,
How did you find this deal and how did you negotiate it?
I got lucky by having one of the best realtors in San Diego. The property was a flip and had been in the market a few months. So we knew the investor wanted to get rid of it ASAP.
How did you finance this deal?
I got an FHA loan so was able to only put 3.5 down. Was also working with a loan officer that I still work with today.