Residential Rental 1 Mankato

[Kayla Forsythe]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $42,000

Purchased 2 duplexes on the same parcel, with 2 partners.

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

I was 25 years old, had just purchased my first home and really wanted to find a rental in a specific part of Mankato that I knew the city would be revitalizing in the future. I also just loved this part of town!

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

Found the property through a friend.

How did you finance this deal?

Commercial loan with 20% down.

Lessons learned? Challenges?

Never buy a property with partners without having everything in writing from the get go! Hard lesson, but very valuable!