First Rental Property!

[Michael Scarpa]

Investment Info:

Single-family residence buy & hold investment in Philadelphia.

Purchase price: $95,000
Cash invested: $15,000

Our first rental to our Buy and Hold portfolio! Used a homestyle loan for renovations.

[Michael Scarpa]

@Julian Snyder Thank you! I am currently waiting for the appraisal to come back but when we bought the home it appraised for $134k. We are hoping to be in the $145k-$150K range. We are going to wait a year or so to refi or put a HELOC on it due to the price to rent ratio. Once rents in the area increase a little we are going to pull our initial out. It is in a section in Philadelphia with immense development going on, so we decided to be patient.