Florida Long Term Hold

[Sokha Ngov]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $390,000
Cash invested: $90,000

3 Bed / 2 Bath pool home in desirable neighborhood.

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

This is our vacation home for when we visit family and do business in Florida.

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

Through an agent. This was an MLS listing and we were bidding against about 30 other offers for this home at the time. We had to come in with our highest and best.

How did you finance this deal?

Conventional loan for investment property.

How did you add value to the deal?

Unfortunately this was not a value add deal. We had to do many renovations on the property. Much more than expected.