Condo as Rental Property

[Arielle Golightly]

Investment Info:

Condo buy & hold investment in Grand Prairie.

Purchase price: $125,000

2 bed 2 bath, rents for $1,350/month

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

I liked the fact the the condo was close to the airport as I have a lot of connections with flight attendants

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

Found it in the MLS, offered asking price with a loan pre-approval letter to get it, since it was a seller's market then.

How did you finance this deal?

Conventional loan, 25% down

How did you add value to the deal?

Changed all the appliances and light fixtures