1st Rental Property - Paid Cash and Still Own it to this day

[Ronelle Hunte]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $5,000

Current Rental

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

It was a whole sale deal I was going to wholesale to another investor

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

I found this deal by a craigslist posting. The owner called me.

How did you finance this deal?

No financing necessary

What was the outcome?

I still own it to this day and plan on just collecting the cash flow from it.

Lessons learned? Challenges?

I learned that lawyers are your best friend in real estate.

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

I did not work with any real estate professionals.