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Updated over 1 year ago,
First real estate investment
Hello all,
I am completely new to real estate, other than the home my wife and I own. Still educating myself with podcasts, etc. Really need to get my feet wet and start with my first investment property.
I am looking at properties in Minneapolis and came across this one: https://www.zillow.com/homedetails/4239-32nd-Ave-S-Minneapol...
My thoughts are, if I were to purchase this property, do a basic repairs to kitchen and baths, and advertise as a STR or as basic rental. I have enough liquid cash for the down payment and probably $20k of repairs. I am pretty handy myself and have done all the trim, painting, flooring, doors, and mudroom cabinets in my house so I could do some repairs myself as well.
Basically, what do you think of this property as a first investment.