My first deals, 3 years in.

[Colten Schwake]

This is my third year being an investor.  My 1st deal was a house hacked, duplex in a 1st ring western suburb of Minneapolis, 3.5 percent down(9030 down). List for 205,000, it ended up in multiples offers and I got it at 258,000. I doubled the square feet and added a bedroom by finishing the basement. I did all the work myself and ended up spending 21000 on total improvements. I have not had to do any advertise to get the place rented, a solid location.  Valued at $380,000 now, pulled my equity and bought another.

Price: $258,000

Down: $9030

Wrapped Closing: $3000 closing/bank paid the other half

renovations: $21000

Rents: $3,200 

Payment:$1730

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Deal 2# Student house

5 bed 2 bath home built in 2006 in great shape. It is next to the state college in city center.

I used my equity of the 1st deal to purchase the property. 

Valued at $315,000

Price:$289,000

Closing: covered buy seller

Payment:$ 1705

Rent: $2895/579 a kid

No renovation needed, no repair needed and no foreseeable ATM. It is newer than all the other houses in the area. I am a little low on rent because I rented it in the off season for school semesters. I feel like this area will pop as far as desirable place to live, close to downtown and a  nice area...one of the last affordable safe neighborhoods.

This is my most time consuming property as far as getting tenants=students are a frustrating group.? How do you stream line this process? How do you do leases? 

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Number 3# 1970 duplex bought is a 1st time home buyers 1st ring suburb. Prices have been in a steep climb. Added a 3rd bedroom to each side for 7,000. 11 year tenant rent is $1350, she maintains it like her home. I live in the other side till I find my next deal. Market rent is 1600.

Value at $348,000

Price: $268,000

Down:$13500

market Rent: $3200

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What are your thoughts? Suggestions? How well did I do? What could I do better? How do I protect myself during a downturn in the economy? These deals were hard to find and it seems the market is even more dry. I am looking for my next deal, the next stage?