First Home Purchase Turned Rental

[Jamie O'Connell]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $290,000
Cash invested: $20,000

4 Bed 4 Bath Townhouse over 3 levels. Walk out basement (which has living room, full bath and 1 bedroom) in a great neighborhood. Most people buy townhouses in front for first home and move to back of neighborhood to single family when family grows.

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

Great deal.

How did you add value to the deal?

Lived in, updated windows and doors. Market drastically rose value.

Lessons learned? Challenges?

1 person does not need 4 bed 4 bath!