First Invest Property was a Single Family House

[Shedrick Archangel]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $19,500
Cash invested: $3,500

This single family house was my first investment property. I purchased it using owner financing. My monthly payments were $125.00.

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

Before I purchase the house, I had been reading about creative financing in real estate.

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

I found this deal through the MLS.

How did you finance this deal?

This was an owner financing deal. Also, I gave the sellers more money up front to get the payments lower.

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

Yes, I worked with a real estate agent. The agent didn't seem very knowledgeable about how to structure the deal, but we made it.