First investment property

[Chris Reyes]

Investment Info:

Single-family residence note investment investment in Fort Lupton.

Purchase price: $193,000
Cash invested: $10,000

This 3 bed 2 bath house was my first investment. I was able to house hack and eventually turned it into a full time rental property.

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

During the last several years colorado has had a huge boom in real estate. I noticed that Denver was gaining more and more residence and had a hunch that that expansion would eventually trickle to the north end where i lived. So in 2015, at age 23, i took the liberty of investing my hard earn cash into my first house.

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

Not being familiar with negotiations and real estate investing at the time, i actually had to out bid a few offers to get this property. Which is why i am trying to find new ways to obtain more properties as an investor.

How did you finance this deal?

I put 3,000 down and financed the rest through a bank.

Lessons learned? Challenges?

I need to be more patient in finding deals rather than just jumping on the first few deals that seem like a good opportunity. Also finding ways to obtain property with possible partnerships.