Eighth investment purchase

[Tanya Cochran]

Investment Info:

Condo buy & hold investment.

Purchase price: $175,000
Cash invested: $65,000

Duplex that I renovated. Currently rented for $3k a month.

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

Duplex condo was located in a great area where the values are already high. Basement needed work but not substantial and I knew the rental market in this neighborhood was very good.

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

Auction.com. I got lucky and didn’t have a lot of competition.

How did you finance this deal?

My own cash and then did a cash out refi

How did you add value to the deal?

Renovated the basement and other cosmetic updates, paint, new light fixtures. For the most, it was already in good shape.

What was the outcome?

Awesome. Looks fantastic and I have a wonderful tenant.

Lessons learned? Challenges?

Should have timed it better for a 1031 exchange, but sometimes timing is not on our side.

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

Myself, and Guaranteed Rate for the refi