My 1st investment property purchase, turned out to be a good one!

[Matt McCurdy]

Investment Info:

Single-family residence buy & hold investment in Cedar Rapids.

Purchase price: $92,000
Cash invested: $1

My 1st investment property purchase, turned out to be a good one! Initially, I provided the sweat to create the equity (and ~$15k of cash). After refinancing in 2018, I have zero cash invested (actually got $10k from the bank to re-invest in a new investment). Boy do I miss 2013 prices! The appraisal in 2018 came out to $142k.

How did you finance this deal?

Commercial financing, 25 year term with 5 year balloon.