Rental property in AA county

[Omid Asgari]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $227,500
Cash invested: $22,000

I sold an investent propert in NC and used teh found as 1031 exchange and purchaded this property in MD, it was a foreclosure and it has been a great rental property

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

On MLS as a forclosure, teh initial price was $240K , they asked for highest and best offer, I submitted $225K and teh countered $227.5K

How did you finance this deal?

1031 exchange, then cash out refi

How did you add value to the deal?

updated HVAC, water heater, bathroom, paint, carpet, dech, new accessories

What was the outcome?

cash flow rental

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I found teh deal on Zillow but put the offer through an agent