My first investment property

[Jashiel Munoz]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $205,000
Cash invested: $12,268

This is the data of my first investment property, Any advise is appreciated

Income
Monthly Rental Income $1,660.00
Total Yearly Income $19,920.00

Expenses
Monthly Insurance $44.03
Monthly Mortgage Bill $1,464.29

Total Yearly Expenses $18,107.43

Total Yearly Cash Flow $1,812.57

Purchase Price $205,000.00
Down Payment $7,117.94
Closing Costs $5,150.40

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

I was looking for something affordable in the Los Angeles area

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

I found this deal in the MLS

How did you finance this deal?

I got a mortgage, and I used an FHA loan

How did you add value to the deal?

I did minor repairs such as painting the property inside, fixed the plumbing, add vinyl floors, added moldings.

Lessons learned? Challenges?

The challenge was to acquire the property, there was a lot of competition at that time.

[Derek Meyer]

@Jashiel Munoz Well fine getting into the game and making moves.

Keep adding value as you pay the loan down, getting out of the FHA to drop the mortgage insurance will increase annual profit (obviously increasing the rents as applicable will also help).

It only takes 1 very intent flake of snow to build an avalanche.