My First Investment

[Dusty Rhoton]

Well, after reading alot of articles here on Bigger Pockets, I finally bought my first investment property.   It was a bit of a struggle as I bought a duplex for my mother who has never owned a home in her life and she is 75!.   The back rent pays for the mortgage and the homeowners insurance, but it was really a challenge to do it in another state.   Several lenders wouldn't let me buy it and make the payments while she lived there and after 2 frustrating months, we found a local community bank who would let my mother buy her first property and I could do the down payments, etc.,.    It was set up as a 5 year balloon and the banker said we could simply renew it after the 5 years was up provided all the payments were made on time.   I am looking to my Bigger Pockets community on what to do next and thanks for your help!