First Home Purchase to Begin Real Estate Portfolio

[Ben Capone]

Investment Info:

Condo buy & hold investment in San Diego.

Purchase price: $510,000
Cash invested: $25,500

Primary Residence. Looking to rent out in the near future and buy another property.

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

My best friend and I wanted to get our foot in the real estate door and begin to grow our portfolio. Wanted to pay our own mortgage rather than someone else's.

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

Used mutual friends in the real estate and loan industries to help.

How did you finance this deal?

Mortgage Loan with a down payment.

Lessons learned? Challenges?

Don't get down on yourself in a hot seller's market. Learned how to be competitive as a buyer.