First Home Purchased In 2008

[Edward G Segovia]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000
Cash invested: $40,000

Single-family residence that I have kept and rented out since 2008. Always enjoyed owning property.

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

Has almost an acre lot on a lake.

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

Just drove around looking for somewhere to live. I was 20, not much of a negation, was just happy to own a home on a lake.

How did you finance this deal?

Local small bank.

Lessons learned? Challenges?

Having purchased the home at the height of the market in 2008, I learned that although your homes value might drop due to a correction in the market, long term investments into real property is the way to go.