First Investment Property

[Cecilia Hagan]

Investment Info:

Single-family residence buy & hold investment in Gainesville.

Purchase price: $62,300
Cash invested: $20,000

My husband and I bought our first investment property when I was pregnant with our first child. We renovated it to force some equity and are now cash flowing at about $400 per month before maintenance expenses. We are hoping to refinance soon to pull out $25-30k to put towards our next investment.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

We managed to stumble our way through a full interior and exterior renovation. It took much longer than we had hoped but we learned so much along the way! We also made sure we would be able to afford the mortgage regardless if we had rental income because we knew we would be figuring it out as we went. `