Purchase, Live In, Rent after Two Years

[Zak Griffith]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $368,800
Cash invested: $15,000

This strategy has always been appealing to me. This home was purchased as a primary residence and after two years my wife and I are renting it for $1,000 more than our mortgage. We refinanced in January of this year and got a 15 year mortgage at 2.1 percent. This home will be paid off in 15 years and we'll make $1,000/month along the way. We are already onto the next!

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

Brand new townhome, purchased from the builder.