My first real estate rental investment, closed August 2019.

[Timothy W Hanson]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in New Richmond.

Purchase price: $400,000
Cash invested: $20,000

My first investment is a 4-plex in New Richmond WI. I wanted to take advantage of the FHA loan option while picking up four "doors" at once. New Richmond Wisconsin is 45 minutes East of St. Paul MN and scheduled to be one of the fastest growing cities inside Wisconsin over the next two decades. After all expenses, the cash flow for this property is currently $800.00. It could be more, because right now the current leases are beneath market value and each could be raised by $100 over the next year based on the neighborhood. Each unit has 2 bedrooms, a living room, a patio in the back.