First investment property.

[Christopher Smith]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $250,000
Cash invested: $50,000

An opportunity purchase with low monthly cash flow to help family, receive a larger cash flow when family moves out in a couple years, and earn equity through appreciation.

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

My first investment in GR, I wanted to help my sisters in law who had a tricky rental situation and expiring lease. Now I own a house and they have a great place to stay. I am not making much off of it now, but it will pay off long-term and was a great learning experience.

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

Working with a local residential realtor.

How did you finance this deal?

Savings and conventional mortgage.