Miami 1 BR Condo, buy & hold

[Ivy Sanmiguel]

Investment Info:

Condo buy & hold investment.

Purchase price: $225,000
Cash invested: $1,500

Unit on Biscayne Bay, 1 Bedroom, 1 bathroom, waterfront pool, lap pool with a jacuzzi, fitness center with steam room, lush landscaping, and on-site management. One assigned parking space with plenty of guest parking.

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

Live in the same building, saw great potential due to current migration patterns.

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

Cash deal.

Lessons learned? Challenges?

Tenant occupied since first day on the market . Currently rented for $2,300.

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

I am the Real Estate Agent.