First Buy at age Eighteen

[Holton Witman]

Investment Info:

Single-family residence commercial investment investment in Goodland.

Purchase price: $20,000
Cash invested: $10,000

I bought this property when I was still in Highschool my Senior year. My parents Co-signed but I was responsible for all of the work and expenses on the property.

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

My dad had rentals and I grew up helping him.

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

Our Janitor at the school was selling his house.

How did you finance this deal?

Bank Loan Traditional Commercial Loan

What was the outcome?

Still renting the property. Will sell if and win my tennant moves out so I can purchase properties closer to where we currently live.

Lessons learned? Challenges?

Doing all your own work from long distance is a headache. If it didn't make such good Cash Flow I would have already sold it.