Starter home turned into investment

[Hilda Hernandez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $151,000
Cash invested: $6,000

1966 Ranch style home in prime location

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

Looking to purchase a primary home

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

Used a realtor and negotiated with the bank (REO) purchase

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Sweat equity

What was the outcome?

Great investment

Lessons learned? Challenges?

Dave Ramsey says never use your retirement funds for a down payment. We did and it was the best investment ever.