First Investment Property

[Terrione Francis]

Investment Info:

Single-family residence buy & hold investment in Moreno Valley.

Purchase price: $330,000
Cash invested: $22,000

Bought the Property in 2017. I had the tenants cover the mortgage and there has not been a vacancy since the purchase. Recently just refinanced and was able to take off PMI and reduce the mortgage by 30%. Now this property is cash flowing nicely even after giving the tenants a rent reduction.

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

Looking for new opportunities for my family.

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

I had a realtor that is a friend of the family that helped and supported me the whole way through the process.

How did you finance this deal?

Traditional Loan with a Co-Sign