# @lattes.and.leases on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/C8QsavmRp2i
- **Gondola URL:** https://gondola.cc/posts/27827853-lattesandleases-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/10dff97e9b.jpg
- **Posted:** 2024-06-16T03:05:26.000+00:00
- **Account Owner:** Soli Cayetano | Out of State Real Estate Investor (@lattes.and.leases) — https://gondola.cc/lattes.and.leases

## Caption

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 this property for $1,500. After the mortgage payment, taxes, insurance, and other maintenance costs - I receive $523 of net cash flow each month. 

Once you take action on your first property - you will be surprised how quickly you are ready for your second! You’ve got this!!

#buildwealth #rentalproperties #palmsprings #palmspringshotels #financialfreedom

## Stats

- **Views:** 0
- **Likes:** 786
- **Shares:** 0
- **Comments:** 84

## Tags

palmsprings, financialfreedom, buildwealth, rentalproperties, palmspringshotels

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