First Real Estate Investment at 21

[James Goggin]

Investment Info:

Single-family residence buy & hold investment in Phoenix.

Purchase price: $179,400
Cash invested: $500

First home purchase, lived in it for almost 5 years then turned it into a rental.

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

First time home buyer incentive. I knew I wanted to be in real estate since I was about 17 years old, pulled the trigger when I was 21 and bought my first house.

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

Zillow, started as a primary residency.

How did you finance this deal?

Cash/bank

What was the outcome?

Became a very profitable rental property that has close to doubled in value in 6 years, and the rent continues to increase.

[James Goggin]

First time Home buyer incentive. I originally purchased it as a primary residence, with an FHA loan that provided 5% of the home value as "cash" at closing toward the value to satisfy the down payment minimum.