First buy and hold purchased from family

[Jason Castro]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $60,000
Cash invested: $60,000

My First Rental property came when my father in law needed to sell a house to pay for a wedding. I asked if he would want to sell half instead of the whole thing and he gave me a great deal! I bought out the other half a few years later and am currently contracted to sell it to the tenants for 150k. I am performing my first 1031 Exchange with this one and hope to split the proceeds between 3 new rentals, or 1 small (2-4)multifamily.

[Jason Castro]

@Dave Foster that’s great advice!