Initially Primary Residence

[Roman Garcia]

Investment Info:

Condo buy & hold investment.

Purchase price: $610,000
Cash invested: $15,000

3 bed 2.5 bath, was initially purchased as a primary residence until we needed more living space for the kids. Moved to a 4bed 3 bath with a backyard and now have the house up for rent. Decided to rent to hold on to property in the OC.

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

It just happened where we had enough liquid funds to purchase a second home and rent out the first one. Now it could lead to something more.

How did you finance this deal?

Regular FHA loan with 3.5 down