1st Investment Condo in Everett at 25yrs old

[Maxine Taylor]

Investment Info:

Condo buy & hold investment.

Bought in Everett, 3b 2b with a yard and designated parking. HOA is $200/month. Planning to rent out once I purchase the next property.

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

In a location where the value is growing, and within my price range.

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

Found on Zillow, and negotiated through my Agent.

How did you finance this deal?

Conventional 30yr

How did you add value to the deal?

Outside is freshly painted, new fence in the backyard. Plan to give the interior a makeover before I list it for renters.

What was the outcome?

Still owner occupied (current living here), but eager to get into my next property.

Lessons learned? Challenges?

Overpaid, but generally a safe investment for my first purchase. HOA is a safety net, that helps with the exterior of the buildings.

[Julien Jeannot]

@Maxine Taylor

Welcome and well done!

When I look back at my purchases, I though I overpaid too. Now it looks cheap and I should have bought everything I could get my hands on. 

Surprisingly, my condos have the greatest average yearly appreciation in my portfolio.