First home I bought as a 22 yr old in college

[Autumn Whittington]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $134,000

This was the first home I bought while I was a full time college student. I house-hacked the 3x rooms upstairs to fellow college students and had $700 a month left over after PITI! That alone got me hoked. After I graduated college and moved out of state, I turned it into a SFR. 10 yrs later, I paid off the mortgage and COR just before COVID-19 hit the fan. Thanks to that, I have used that one house to accelerate my investment portfolio.

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

Location close to my school, safe location, and just on the outside of the expensive tax county.

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

MLS with a RE agent.

How did you finance this deal?

Private loan via family member.

How did you add value to the deal?

Renovated yard while I lived in the house for the first 2 years. Over the last 10 yrs, I have updated the windows, flooring, and basement.

What was the outcome?

Stable rental property. Rent has 2x over the last 9 yrs.

Lessons learned? Challenges?

Real estate is easy, you just need to jump in and learn as you go.