My first property as a 22 year old

[Alfonso Ceja]

Investment Info:

Condo buy & hold investment in San Diego.

Purchase price: $125,000
Cash invested: $7,500

Found a long term rental not knowing at the time it would benefit me as much as it has.

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

I was in a position at 21 years old to rent an apartment or buy a property. I was pressured into moving out of my parents house as the house was in foreclosure. So I bought my condo thinking of keeping it longterm and it has been a blessing having found it almost ten years ago,

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

I got lucky by having one of the best realtors in San Diego. The property was a flip and had been in the market a few months. So we knew the investor wanted to get rid of it ASAP.

How did you finance this deal?

I got an FHA loan so was able to only put 3.5 down. Was also working with a loan officer that I still work with today.

[Alfonso Ceja]

Getting $2050 for rent and mortgage including ins, taxes, and HOA is 1550. 2.75 interest rate.

It's a two story 2 bed 1 bath condo in San Diego, CA.

Yes, I actually bought a single family home not too far from my first property about 5 years ago. 

Looking for investment properties out of state.