First Investment Finalized - Woodbury, MN

[Chris LeMay]

Investment Info:

Single-family residence buy & hold investment in Woodbury.

Purchase price: $158,500
Cash invested: $40,000

Just bought our first townhome in Woodbury, MN. Excited to get my investment career started.

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

Cash Flow, close to home, purchased it below market value and long term equity.

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

Found it on MLS.

How did you finance this deal?

30 year mortgage with 25% down.

How did you add value to the deal?

Townhouse is 'move-in' ready so nothing new to do at this time. Will likely add granite counter tops and SS appliances in 2019.

Lessons learned? Challenges?

Still need to find tenants so I am sure the challenges lie ahead.