First investment was an accident!

[Shane Johnson]

Investment Info:

Single-family residence note investment investment.

Purchase price: $105,000
Cash invested: $1,000

1st ever home purchase (condo) and I have owner occupied financing that I obtained prior to rate hikes. Rents in the area caught my eye, so I moved out and got my feet wet as a landlord.

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

This deal fell into my lap on accident. I purchased this condo as my primary residence and my first home. After living in the area for my entire life, I knew this was a future rental property for me, but had no intentions to immediately rent. After a year, I pulled the trigger. University students nearby were hot on the market, and I couldn't turn down the rents I could get. Netting $786/month before R&M.

How did you finance this deal?

Owner occupied financing.

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

I'm a lender myself. Contact me if you need financing.