new to investing, help

[Cody Ford]

Investment Info:

Townhouse buy & hold investment in Dickinson.

Purchase price: $208,000
Cash invested: $8,000

I bought this property with no money down with 4.5 % interest rate. I had my brother move in and a coworker I charged them rent. brother 400 and coworker 475. I've been putting extra money to the principle about 8000 so far since i bought it. I want to learn more about real estate and would like to rent out to a family with in a year.

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

well to buy it and pay it off fast and make money off of it by renting.

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

thru a realtor and this is my first home so didnt really know how i should negotiate this.

How did you finance this deal?

thru a bank

How did you add value to the deal?

i didnt

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

i used a realtor

[Cody Ford]

@Michael Wentzel

Yes I have asked Neighbors around Me how much there paying just 2 so far one is 1550 and one is 1650. My mortgage is 1390 at 4.5% when should I refinance to get lower interest rate. Next feb will be 2 years I have lived here. Also in sept I will have a new tenant paying 600 and my brother still 400 bc I’m trying to help him out for now. He is only going to be here for another year and I’m trying to learn all I can so when they both move out in a year I can make a move.