Long Term Hold Paying Off!

[Charles DeLong]

Investment Info:

Condo buy & hold investment.

Purchase price: $78,000

Air BnB Condo i purchased in 2012 out of college for 78k - Now cashflowing $1800/month and worth 375k.

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

Early on in my college days i knew i wanted more from life and didnt want to waste my life in a cubical. So i took the leap into buying a condo that i would live in for 4 years before i leveraged it to purchase more homes

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

On the MLS. My parents were agents... Great location

How did you finance this deal?

Conventional Loan/20% down

How did you add value to the deal?

Completely remolded it

What was the outcome?

almost 300k in appreciation! $2000/month cash flow on Air BnB

Lessons learned? Challenges?

Should have bought more in 2012!

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

Yes, i always reccomend having a Realtor in your corner. They are typically free to buyers and bring a wealth of local market knowledege