Updated over 6 years ago on .
First investment house
Investment Info:
Single-family residence buy & hold investment in Augusta.
Purchase price: $139,000
Cash invested: $27,000
My first SFH purchase may have been a negative cash flowing deal but by paying double payments and holding it for a while I was able to use leverage once I started the RE journey.
What made you interested in investing in this type of deal?
After 8 months in Afghanistan I decided to buy a house instead of throwing my money away, I knew RE was good but I had NO idea about any of it. I closed on a new build SFH and paid double payments and thought well that's it I'm an investor now and went back to work for the next 5 years. As I was looking to answer an RE question online I found this site, heeded some advice and decided to leverage my SFH. I converted the 15 year note to a 30, took 75k on a refi, and my cash flow increased allowing
How did you find this deal and how did you negotiate it?
Found the closest real estate agency, explained what I was looking for and that was that.
How did you finance this deal?
20% down on a Conventional bank loan.