New investment ideas

[Jacqueline Gonzalez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $60,000

This house was bought by my exhusband and he gave it to me. There is a tenant, cash flow is about $225. Looking to purchase another home to live in Florida and another home as an investment. I live in Florida and renting. Two options, invest in baltimore or florida using equity from baltimore home? Baltimore seems to have better options but i want to start investing in florida but it is exoensive. HELP? ALSO. EXHUSBAND HAS BEEN PREAPPROVED FOR A VA LOAN. He is willing to purchase a home for me.

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

I want to buy and hold.

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

This home was not my investment. This home is a gift from my exhusband. But there is still a mortgage and tenant is paying mortgage off. There is a cashflow of $225 but that goes towards fixing the house.

How did you finance this deal?

Conventional mortgage

How did you add value to the deal?

N/A

Lessons learned? Challenges?

Should i sell home or use equity to purchase home in Florida or purchase in Baltimore duplex or 4 units.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No