First Investment Property Purchase

[Kenneth Ehrmann]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $59,000
Cash invested: $14,025

This was my first investment in Middletown market and also with a new partner/friend. We spent about $2700 to get this rent ready. Our current PITI is $380 and this place is currently leased for $1024 a month.

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

The cashflow was projected to be really great.

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

We found it on the MLS and made a close to asking price offer.

How did you finance this deal?

Traditional bank financing.

How did you add value to the deal?

We updated a few necessary components, nothing major.

What was the outcome?

We are still holding it and cash flowing today.