First townhouse, fell into rental market

[Jatinkumar Patel]

Investment Info:

Townhouse other investment in Melbourne.

Purchase price: $151,000
Cash invested: $30,000
Sale price: $151,000

Townhouse in Florida, near our mother in law that started our rental portfolio. Now living in it as a starter home as Covid forced me into "early retirement "

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

Needed a place near my in-laws just in case my wife wanted to live closer to her mother. Needed a nicely updated home to rent out until we could move into it. By this being our first rental and seeing it's success , motivated us into more rental properties.

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

Awesome Realtor who listened to our needs. We moved around a lot and need a place that we could rent out to create equity and it started our first rental investment.