Updated almost 7 years ago on . Most recent reply
My First Home Rental Unit. Learning
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $140,000
This home was my first home I purchased. I have moved out into a second home with the wife, and decided to keep and rent out the first. The Property gained roughly 15% value after the first year as the market skyrocketed.
What made you interested in investing in this type of deal?
I am looking to make long term income, and gain equity through others.
How did you finance this deal?
This home is currently mortgaged through QuickenLoans. 30yr / 3.625%. I did make a minimum down payment, however the PMI was already removed as the home value rose above the 22% Equity QL requires in the first year.
