Palm Beach Florida Beach Condo

[Elizabeth White]

Investment Info:

Condo buy & hold investment.

Purchase price: $181,000
Cash invested: $55,000

1 bedroom, 1.5 bath condo with walk out to the ocean.

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

Purchased under market, financial investment for the long term, wanting to rent long term (had to wait 2 years, per association rules)

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

friend

How did you finance this deal?

30 year 1.99 traditional loan

How did you add value to the deal?

purchased under appraisal and added 55k cash

What was the outcome?

Great deal that has already appreciated!

Lessons learned? Challenges?

Act quick before deal was gone.

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

Lending broker