$133K FHA purchase 10 years ago, now renting for $2,150/month.

[Heidi Braunhardt]

Investment Info:

Other buy & hold investment in Fort Lauderdale.

Purchase price: $133,000
Cash invested: $20,000

This was the very first property I purchased. It was back in 2011, and I used an FHA loan. I lived in the home with two other roommates (it is a 3/2 townhome) while I saved up to buy my next property. I now rent this property for $2,150/month.

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

I was 24 years old and it was my first purchase. I was happy to utilize an FHA loan so I did not have to come out of pocket much to acquire the property, but I honestly did not know much back then!

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

I use a Realtor (as I was not a Realtor at the time) and this was a short sale.

How did you finance this deal?

FHA 3.5% down.

What was the outcome?

The same tenants have been there for six years!