First house converted into a rental property

[Ferdinand Pardede]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $261,000
Cash invested: $8,000

3 bedroom, 3 bathroom, 3-car garage, 2100 sq ft building, 7700 sq ft lot

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

My first real estate investment, originally for family house.

How did you finance this deal?

30-yr fixed, with 3% down
Mortgage has been completely paid off

How did you add value to the deal?

Pure cash flow since mortgage is paid off

What was the outcome?

Originally purchased for our main family residence. We have since moved to different places, and now use a local property manager (Windermere) to manage our properties.