First property at 22

[Tyler Fremarek]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $210,000
Cash invested: $6,300

Townhome that I bought to live in for the first year with 3% down, then rented it out after the first year.

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

Thought it was a safe first investment, instead of flipping or fixing with no prior experience.

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

Thought it was priced fairly so paid asking price.

How did you finance this deal?

3% Conventional Loan at 6.25%

What was the outcome?

It’s currently a rental!

Lessons learned? Challenges?

In an unexplainable way, I enjoy having the HOA fee, but also do not. I find it less work to go and trim the grass, snow removal, etc. It is more hands off than I imagined. However, profits would be bigger if there were no HOA fee and there would be more opportunity to make improvements on the property.