Investment Number 3: Lincoln Ave Single Family Home

[Krissie Poplin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $75,500
Cash invested: $17,000

This property is a 3 bedroom 1 1/2 bath with an attached garage. The home sits on a large lot in a quiet neighborhood on the edge of town.

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

We discovered this deal by being approached by the same couple my fiancé and I purchased our last duplex property from. They were trying to sell all of their investment properties in Minnesota, so they could move to their dream home in Montana. This was their last property in Minnesota that they had to sell, and they loved the idea of passing it on to young investors like my fiancé and I.

How did you finance this deal?

We financed this deal on a 30-year fixed conventional mortgage with 20% down.