My first investment

[Michael Keys]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $50,000
Cash invested: $8,000

This was my first investment and it was bought in cash, 3bed 1bath, 1010sqft

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

The free equity that was in the house and the potential to build even more easy equity.

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

On the MLS, it was a foreclosure because of a divorce I believe

How did you finance this deal?

Cash

How did you add value to the deal?

It is much better than the 1% rule and the ability to pull equity will be very useful for my next play

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

I was working with my parents at the time using their amazing real estate agent skillz.

[Benjamin Aaker]

Congratulations Michael!
What are your long term plans for the property? 
Where did the other $42,000 cash come from?