Just purchased my first rental property!!

[Tyson E Keslar]

3 weeks ago I purchased a cozy little "cabin in the woods" that I've been living in and renting for the last 8 years. I'm a contractor and have been maintaining and upgrading the house since I've lived in it. I recently had it privately appraised at $159K. They sold me the house for $30k. I gave them $16K down over several payments then recently borrowed $14K from a private lender to pay off the balance. Then I immediately applied for a HELOC to pay off the private lender and purchase another property. I just put all new floors in it this week and the bank appraiser comes on Tuesday! 🤞

[Allen Parker]

Awesome and congrats on your first rental property! I'm sure it'll benefit you immensely being your own contractor! Enjoy