Keeping the Momentum Going

[Leighton Williams]

Investment Info:

Condo buy & hold investment.

Purchase price: $220,000
Cash invested: $30,000

Lake living is good! Beautiful 3-story unit with lake views from all levels. Amazing grounds and community deck with stairs to the lake and your own boat dock. The lake has all sports and the views, north facing, are fabulous. A bath on each level. Lowest level can be the 3rd bedroom suite or a family room complete with wet bar. It walks out to a brick patio. Association offers an in ground pool, tennis court, and deck. You'll have 1-deeded & adjacent carport spaces just outside your front door

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

Great property in a great location. Can definitely put some sweat equity in as well.

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

Agent on the MLS

How did you finance this deal?

Land Contract

How did you add value to the deal?

Came to agreement with seller that met his financial needs and secured a solid LTR in the process.

What was the outcome?

Great unit that will become LTR for the time being.

Lessons learned? Challenges?

First investment property purchased that has an HOA. Pros and Cons to it for sure. Will be interesting to navigate.

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

Fadi Dabaja EXP Realty