First property in my new city!!

[Sam Gleadle]

Investment Info:

Condo buy & hold investment.

Purchase price: $289,900
Cash invested: $15,000

Bought a condo as my primary residence. Will be rented out when I move. From looking around prior, I am confident that due to the area of the condo, I can rent out for at least $200-300 over my total expenses for the property. I expect the area to appreciate over time as well.

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

Great spot for my wife and I to live while we are here, and when we move I believe it to be a good place to rent out.

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

Team I play for gave me the real estate agent that works with athletes here in MN. I paid full asking price, but got the seller to pay for about 85% of closing costs.

How did you finance this deal?

Traditional financing, and qualified for 5% down.

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

My agent is a good agent to work with as a normal person for a primary residence. When I look for investment properties I will probably look elsewhere.