I bought my first rental property during the pandemic when I was 22. With the overall goal of financial freedom - I decided to make a bet on myself although I never had invested in real estate before...
Today - I own over 40 units of real estate. I started small and scaled quickly - if I had to start all over again - I wouldn’t do it any other way!
Here’s a breakdown of my very first real estate investment:
👉 I found a single-family home in Cincinnati, Ohio for $98K. I put down $20K (20%) and funded the remaining purchase price with a conventional loan.
👉 I applied for a 0% APR credit card (in my business’s name so it wouldn’t impact my personal credit score) and put $15K of renovations & capital improvements into the property.
👉 Following renovations - it was reappraised for $155,000 and I refinanced for 75% LTV. I then paid off the original loan, paid off my credit card, and paid myself back on closing costs. I was then left with ~$8K left in the deal.
👉 Today, I rent out...
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