First home purchase up for rent and purchasing my second home

[Carlos Villaneda]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $210,000
Cash invested: $2,000

4 bedroom, 2 bath, 1 car garage and big yard

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

Decided to stop putting my money in someone else’s pocket and invest in myself instead.

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

Found a real estate agent that was recommended to me, negotiated through them.

How did you finance this deal?

Through a credit union.

How did you add value to the deal?

Maintained the home to its original state, re-did the laundry/pantry room for more space and cleaner look.

What was the outcome?

As of right now it is going to be rented out while I move into my second home I bought.

Lessons learned? Challenges?

Make sure to read into HOA rules if it applies, be there for home inspections, make sure to actually like the home and payments are within our means.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes. Angela Johnson with The HomesFinder Realty Group