SECTION 8 - Investment Property

[Ulisses B.]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $18,000

This was my 3rd investment property that I purchased. Roughly 9 blocks away from the University of Southern Miss (where Brett Favre played in college). One of my better investments, since it was such a turnkey property. This rental was a Section 8 home where I payed for the water/garbage. My mortgage was $539 and i charged $1,025 a month. However, due to the water usage, i was paying almost $125 a month in water expenses (Cash flow: $361) I re-negotiated the lease and lowered the Rent to $950 and got away from paying the utilities.

Current cashflow: $419