My first investment home

[Michelle Meyer]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $420,000
Cash invested: $83,000

I bought this house as my home, moving from my 1st home after refinancing to put down payment.

This was at the top of the market back in 2006, 3 years later, almost lost this one and my 1st home.

my 1st house was rented to my brothers and they were living with roommates. jobs were lost and things became tricky.

Started to rent rooms in my "new home" and was able to pull thru.

eventually moved back to my 1st home, rented the house to 1 family and a little over 3 years now, I am under contract to sell and looking into doing a 1031 exchange and I am nervous.

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

I wanted to move to this city so my son would go to the best school district in our area.

How did you finance this deal?

interest only at that time

What was the outcome?

I am excited now, after 16 years, but still pretty nervous about selling and going out to find other properties.