Uptown Condo in Historical Neighborhood / Building

[Mitchell Coles]

Investment Info:

Condo buy & hold investment.

Purchase price: $270,000
Cash invested: $270,000

Single family condominium in Uptown Charlotte's historical building/neighborhood.

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

The property value in the neighborhood is slated to increase significantly over the next 10 years.

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

It was first a rental in my Airbnb portfolio. On a whim, I asked the owner if he was willing to sell the property. His response was "everything is for sale".

How did you finance this deal?

It was a cash deal with my savings.

How did you add value to the deal?

The unit was already in excellent condition.

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

I did not work with a real estate professional.