I am an enthusiastic real estate investor who acquired a remarkable condominium in the highly sought-after Marina del Rey Arts District in November 2019. With a purchase price of $1.3 million, I invested $143,000, covering both the down payment and closing costs associated with the property. Securing an advantageous 3.1% interest rate, I have taken advantage of favorable market conditions.

Since purchasing the property, I have dedicated myself to enhancing its appeal and functionality. With a keen eye for design and meticulous attention to detail, I have upgraded the condo to create an exceptional living space. The property now boasts modern features and amenities, showcasing my commitment to providing a high-quality residential experience.

At present, this exquisite condo serves as my primary residence, allowing me to personally appreciate the comfort and elegance it offers. However, my long-term goal is to leverage the thriving market for mid-term rentals in Marina del Rey. Recognizing the demand for fully furnished, upscale accommodations, I aim to transform this property into a sought-after mid-term rental opportunity. With rental rates anticipated to range between $8,000 and $10,000 per month, this investment holds significant potential for attractive rental income.

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

I was drawn to investing in this particular deal for several reasons, and the unique advantages of the Marina del Rey area played a significant role in my decision.

First and foremost, I recognized that Marina del Rey offers excellent potential for growth and value appreciation. While neighboring neighborhoods like Venice, Santa Monica, and Playa Vista have experienced significant price increases, Marina del Rey has remained relatively undervalued. This presented an opportunity to invest in a d

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

Zillow.

How did you finance this deal?

I initially purchased the Marina del Rey condo with a 10% down payment on a 4% Jumbo loan, supplemented with a $130,000 7/1 ARM to avoid PMI. However, during COVID, I took advantage of low interest rates and refinanced to a 30-year fixed mortgage at 3.1%. This allowed me to meet the 20% down payment requirement, remove the ARM, and secure long-term stability while maximizing equity.

How did you add value to the deal?

Remolded the bathroom, kitchen, and landscaping, and I intend to convert the dining room into a 3rd bedroom.