Long Term Rental in the Orlando, FL area

[Lorena Correa]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $193,000
Cash invested: $6,000

Bought this townhouse with a conventional loan 25% down. Invested $6000 in new plumbing and painting. Has been rented since day one.

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

Low monthly maintenance fees, great location, great schools, and highly rentable area.

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

Found it on MLS. We put an offer on it and a different offer was accepted, we left our offer as a back up. The previous offer fell through and we moved on to secure financing. We were able to negotiate closing cost assistance in order to cover for the replacement of the plumbing.

How did you finance this deal?

Conventional 25% down.

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

Myself I am a full time real estate agent. My lender was Ana Alvarez from The Mortgage Firm. I received a great Interest rate and closed in 20 days.