First Real Estate Purchase

[Brian D.]

Investment Info:

Single-family residence other investment.

Purchase price: $190,000
Cash invested: $1,500

First real estate purchase, 6 months after graduating college. Single-family rambler on 3/4 acre lot. Subdivided into 3 lots. Sold the two vacant lots to a local builder. Lived in the home for four years before moving and renting. Still own home today.

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

Large residential property that could be subdivided.

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

MLS

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Created 3 lots from 1.