Twin cities area rental investments

[James P Eadie]

Investment Info:

Townhouse buy & hold investment in Hugo.

Purchase price: $187,000
Cash invested: $15,000

End of 4 unit townhouse group, split level, 2 bed, 2 bath, 2 car attached garage

What made you interested in investing in this type of deal?

Needed a place to live near a new job. Intent was to live there until I got to know the area and then rent it out when I found a permanent residence.

How did you find this deal and how did you negotiate it?

Used local realtor.

How did you finance this deal?

Used relo funds from employer to cover 2/3 of downpayment.

What was the outcome?

Relatively inexpensive and hassle-free living for a few years. Refinanced to get cash out for next downpayment.

Lessons learned? Challenges?

Spend more time with neighbors to better understand local conditions and differences between similar looking properties.