Updated over 7 years ago on . Most recent reply
NO MONEY DOWN IN 2007
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $106,000
Cash invested: $5,000
I needed a place to buy after a divorce. I got a zero down loan closed with less than 1000 to purchase. I lived in the home for 6 months and then began to lease. The rental rate has increased from $1100 to $1400. I refinanced in 2009 to a 15 year note, I have only added $5000 in improvements during the time I have owned the property and now cash flow $460 per month and will have the property paid in full in 2024.
How did you finance this deal?
100% financing on an 80/20 loan.
Lessons learned? Challenges?
I wish I would have purchased more like this during the years.