My first investment property in 2003

[Manny Vasquez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $144,000
Cash invested: $39,000

This is the first property I purchased back when I was 26. This property got me started in the Real Estate game and it also motivated me to get my RE License.

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

I had read Think and Grow Rich, which motivated me to go out and buy my first property.

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

I found this property through an RE Agent. We got the deal tied up for $144K.

How did you finance this deal?

I used the FHA, 3.5% down program

How did you add value to the deal?

Pretty much remodeled the property throughouit

What was the outcome?

This property is still being rented out

Lessons learned? Challenges?

Many, many, many lessons learned....most importantly, I learned how to be a better landlord and what to do and not to do.

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

Yes. I bought the property through an agent because I wasn't licensed at the time. However, the best licensed agent I recommend is myself!