My Investment Property Portfolio Summary

Saturday, October 6, 2012

My First House

I bought my first house in April 2008. This is, and has been my primary residence since purchasing. What does that have to do with real estate investing? Well, I bought it as a foreclosure, and got a pretty good deal on it. Notice the date – it is precisely when the housing bubble was popping; the very beginning of it. Little did I know that many more foreclosures would follow.
What is funny is that I saw this listing for $106,000 in the 8 month period that I was browsing for a house. I was happy in the area I was renting in, and this was right down the street. A few months later I saw it listed at $85,000. I ended up buying in a $100,000 neighborhood for $80,000, and doing about $10,000 of renovations myself – making it one of the nicer properties on the street for a total of $90,000 invested. The equity that this yielded in my house was the beginning of my real estate investing career!

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