My First Investment Property

[Davis Molnar]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $60,000
Cash invested: $15,000

Presenting a charming 4-bedroom, 1-bathroom residence situated in Toledo, Ohio, just a stone's throw away from the prestigious University of Toledo. This home is perfectly suited for students enrolled at the university, as it offers a secure and reliable accommodation option with the assurance that rent payments will be conveniently handled by their parents. Currently, each room is competitively priced at $300, and with the possibility of welcoming new tenants, there is potential for even greater profitability in the future.

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

The location of the property in accordance to a University. Also, the house was listed at a good price point.

How did you finance this deal?

I financed through a conventional 15 year loan at a rate of 2.875%.

How did you add value to the deal?

I added value to the deal by painting all the rooms and furnishing it.

What was the outcome?

The property is still generating good cash flow and has around $70,000 in equity.