My First Investment Property

[James Horner]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $90,000
Cash invested: $20,000

I purchased two single family homes in Windsor Vermont for 90k both on the same plot of land. I invested $6k into the first home and rented it out in a month for $850 and the second home I pulled an armature move and lived in it while i fixed it up. I put $14 k into it over the course of a year then moved out of the property and rented it for $1200 a month. Since month one of owning this property I had tenants paying my mortgage. I did this remodel right out of high school, purchasing the property with money i had saved up from flipping cars. The bank required 25% down because I was only 19. I still own these houses and have the same tenants in both houses.