First rental property

[Cole Olstad]

Investment Info:

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

Purchase price: $395,000
Cash invested: $80,000

Quadplex near downtown Rochester, MN.

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

I have always wanted to get into real estate and one of my goals was to own a quadplex.

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

MLS

How did you finance this deal?

Conventional loan

Lessons learned? Challenges?

Run all the numbers not just the basics.

[Cole Olstad]

Added new fans to the bedrooms, new paint, new dishwashers and cleaned up the building/lot. Will be improving one unit the end of this month after a long-term tenant moving out.