My First Property

[Jean-Carlos Alix]

Investment Info:

Single-family residence buy & hold investment in New Jersey.

Purchase price: $350,000
Cash invested: $40,000

Bought this first house to not only start my family in it but to also begin my real estate investment journey.

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

I wanted a nice growing neighborhood to start a family in, but also with the intention to make it a rental property in a few years. Fix it up with my wife and get it rental ready for when we move on to a bigger home

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

I used realtor. Com and searched for months and made many offers but when we found this house we knew it was perfect for our goal of living in it for a few years fixing it up and renting it.

How did you finance this deal?

I did a conversational loan 30yr loan fixed rate (5.65%) with 3.5% down.

[Joseph Guzzardi Jr]

@Jean-Carlos Alix where in NJ is the property? Where do you see the ARV on this once renovations are complete? Pending location, your future rent may not cover the mortgage, especially if you refi. Having said that, there are options to creatively have this property setup as a rental pending location.