Main house accidental investment

[Nathan Moore]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $5,000

My second house that was supposed to be my “forever” house. That only lasted 3 years.

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

I fell into buying this house accidentally. I had moved more than 50 miles because of work and my FHA loan had a clause where I was automatically approved to buy a house with 3% down in that scenario.

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

It was a standard house purchase through a realtor to find my “forever” home

How did you finance this deal?

Just had some cash on hand from my regular 9-5

How did you add value to the deal?

From the time I bought the property the value has skyrocketed to almost half a million. I guess I bought in the right area

What was the outcome?

I still own the house and rent it out to pay the mortgage.

Lessons learned? Challenges?

No major lessons learned.

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

Just worked with the local realtor and the recommended lender.