First home now rental

[Bret Bauer]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $165,000

Purchased property while in college. Lived in it and rented out 3 rooms. Now rented to family.

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

I was able to live rent free and have my roommate pay off my mortgage and bills while in college.

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

Real estate agent.

How did you finance this deal?

Conventional.

How did you add value to the deal?

Biggest value was living rent free.

Lessons learned? Challenges?

For awhile the rent was the same as my mortgage so I was just about breaking even but have gained a lot of appreciation. Now it cash flows and is almost paid off. Learned the value of appreciation and finding a deal that cash flows.