Turning a liability into an asset!

[Tyler M vlna]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,000
Cash invested: $9,000

In 2016 I purchased my first car a 2016 Chevy Camaro. At the time I was excited until I had to start making those $409 monthly payments lol. Luckily, shortly after I discovered the Bigger Pockets podcast and it really educated me on being more financially responsible. Fast forward to 2021 when the car market was really booming I decided to sell my car and take home $9,000. I then used that as my down payment to pay for my first positive cash flowing investment property.

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

Honestly seeing bigger pockets students and people i know that are in real estate have success.

How did you finance this deal?

I used a conventional loan but was only had to put down 5% down payment.

How did you add value to the deal?

I would probably say receiving a low interest rate and a low down payment really helped me save on the up front cost.

What was the outcome?

Low monthly payments with a high rent!

Lessons learned? Challenges?

Stay patient! I was beat out on 12 deals before mine got accepted!

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

Yes Agent Anissa Carrillo! She really helped me sane throughout the whole process!