My First Rental (Bought while overseas)

[James Toland]

Investment Info:

Condo buy & hold investment.

Purchase price: $189,000
Cash invested: $50,000

2 Bedroom 2 Bath condo 15 min from Downtown Phoenix in Mesa Arizona.

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

I believe buying property is the best way to retire early

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

I just constantly searched different real estate websites until I found a good deal at a good price.

How did you finance this deal?

Saving 20% down

What was the outcome?

I was able to buy my first rental property at 23 years old

Lessons learned? Challenges?

I learned to vet every real estate agent and property manager. My first property manager/real estate agent was recommended by a trusted friend so I didn't do any vetting online (big regret). Long story short, 3 months into me owning the house with no tenants, I switched property managers and had a renter within 2 weeks moved in. DO YOUR OWN RESEARCH!!