First Rental Property

[Charles Simms]

Investment Info:

Single-family residence buy & hold investment in Louisville.

Purchase price: $107,000
Cash invested: $107,000

This is my first rental property. It is a Single Family shotgun style home. It was also a rental property for the previous owner who was looking to off load properties that he had loans on.

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

I was looking for multifamily house but they were either way outside of my price range I felt comfortable buy in or being bought as soon as they were put on the MLS.

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

Found this deal on the MLS.

How did you finance this deal?

I used a HELOC leveraged against my primary residence