Updated about 2 years ago on .
First Home Purchase
Investment Info:
Condo buy & hold investment.
Purchase price: $270,000
Cash invested: $15,000
After purchasing my first home and renovating the space, my wife and I made this our first investment in our portfolio. We loved this experience in learning how to purchase, rehab and rent a home. However, the community this is located in is unable to allow short term rentals, so it will continue to be a buy and hold property for long term rentals.
Lessons learned? Challenges?
Being incredibly new to this whole process, there were plenty of things we learned. We learned about financing, about how much everything costs, how to work with different vendors and rehab a home, what brings value and what doesn't and so much more!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Michael at Cross Country Mortgage was incredible!
