1st cash-flow property

[Jamal Wells]

Investment Info:

Condo buy & hold investment in Atlanta.

Purchase price: $144,000
Cash invested: $2,000

My first income property (a 2bd/2ba luxury loft) is located directly on the Atlanta Beltline (the city's largest and most comprehensive urban development project). This sustainable redevelopment project currently provides a network of public parks, multi-use trails and transit along a historic 22-mile railroad corridor circling downtown and connecting many neighborhoods directly to each other.
I purchased the property in mid-2012, lived there for 1 year, then rented the loft out for a positive cash-flow/income. The value of the property has increased 2.5x in 8 years.

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

Passive income. Great development to have property on (Atlanta Beltline)

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

Heard about it through a friend.

How did you finance this deal?

BofA Mortgage