Buy and Hold

[Clement Ndifor]

Investment Info:

Townhouse buy & hold investment in Van Buren Point.

Purchase price: $138,000
Sale price: $229,000

Student rental town home property, sold when the market was high and pulled cash to focus on the next phase of my investment strategy.

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

My experience with rentals while in university realized that students always prefer convenience and disposable income is no issue without having to worry about rental payment issues they all prepaid..

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

Looked for 3 rooms upstairs, which shared a bathroom and put the property manager in the basement who had their own bathroom where the washer and dryer were. They got a discount on rent. If I couldn't get a property manager then I just rented it out myself for a higher premium.
4 rooms in that market would always be enough to pay for mortgage and give me at least $1000 monthly with all utilities covered.

How did you add value to the deal?

Added solar to the property which gave me a downpayment for the next deal.

What was the outcome?

Sold for a profit