Buy and hold new townhouse construction

[Amy Kendall]

Investment Info:

Single-family residence buy & hold investment in Saratoga Springs.

Purchase price: $203,000
Cash invested: $33,000

This was a new build townhome we purchased with the intent on renting it out. I remember being so nervous that we were paying too much for the property at the time. We bought this in the very first phase of construction, and the next year they had already increased the selling cost by about 40k. We financed it through the builder with a 15% down payment. Looking back, I just wish we had been brave enough to pull all our money out of a refinance to buy several more.