OUR FIRST BUY & HOLD INVESTMENT!!!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $224,000
Cash invested: $12,000
We purchased this home brand new as a personal residence back in 2020. I was searching for a rental investment for months this year, and nothing cash flowed well enough to pull the trigger. I asked the "Lazy Investor" Dion McNeeley for advice on what to do, and he said, "have you looked at your current home?". Just a few months later our home is now the first of many investment properties!
What made you interested in investing in this type of deal?
The cash flow and the opportunity for wealth building.
How did you find this deal and how did you negotiate it?
We purchased it brand new off the MLS in 2020 during the peak of the pandemic. We got a really great deal on it because there weren't a lot of homes selling at the time.
How did you finance this deal?
FHA loan.
How did you add value to the deal?
no added value was needed.
What was the outcome?
$600+ of cashflow per month.
