2 Brm 1 bath with loft

[Drew Cifrodelli]

Investment Info:

Condo buy & hold investment.

Purchase price: $195,000
Cash invested: $50,000

Move in condition, rental grade appliances and finishes.

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

Combination of cash flow and equity increase potential at the same time.

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

I'm a licensed broker.

How did you finance this deal?

Business loan

How did you add value to the deal?

Knowledge of the local market

What was the outcome?

$50K increase in equity in 2 years, $200 per month increase in monthly rent, replaced water heater and dishwasher after purchasing.

Lessons learned? Challenges?

Keep rent a little low ($25 makes a big difference) so that your tenant stays long term.

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

My self