1st Rental Property purchased!

[Andrea Livingston]

Investment Info:

Single-family residence buy & hold investment in Colorado Springs.

Purchase price: $121,680

Single-family home located in Colorado Springs, CO.
Approximately 1,526 square feet, 4 beds and 2 baths with a lot size of 8,600 square feet. Currently estimated in value at $246,300.

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

Our strong desire for & belief in PASSIVE INCOME!

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

My parents purchased this house in 1994 while my father was stationed at an Army base in Colorado Springs. They retired to Myrtle Beach in 2016 and have been renting the property since that time. My parents are now interested in moving out of the country and decided to sell the property. The renters aren't able/interested in purchasing. So, we thought it a great opportunity to swoop in & save the day. ;)

How did you finance this deal?

Assumed parent's VA Loan (3.75% interest rate)

What was the outcome?

The current renters will remain in the property.