My first rental in minneapolis.

[Puja Shah]

Investment Info:

Condo buy & hold investment in Minneapolis.

Purchase price: $270,000
Cash invested: $270,000

my first accidental investment.
1 bedroom 1 bath rental in a condo building
Stays occupied 100% of the time. The Association is pretty high

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

It was an accident. We bought it as a primary residence. In the 2008 crash had to move out of state and the prices were under water. So held on.

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

Bought the unit under construction.

How did you finance this deal?

20% down and the rest on Loan. slowly paid it off.

How did you add value to the deal?

Na

What was the outcome?

Has been rented 100% of the time at 1750 a month

Lessons learned? Challenges?

Single bedroom rent easier than 2 bedrooms.
Would be better if I didn’t have to pay high association fees or high property taxes.
Location is key.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Na