Large Studio Apartment

[Derek Owen]

Investment Info:

Condo buy & hold investment.

Purchase price: $310,000
Cash invested: $95,000
Sale price: $430,000

Buy and Hold studio apartment

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

Was next door to my apartment (1 bed) and I was going to combine the two and turn them into a 3 bed. Ended up renting it for many years and even tried AirBnB when it first became a trend for 6 months.

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

Due to the proximity I knew when it became available and approached the owner before it went on the market.

How did you finance this deal?

Personal savings.

How did you add value to the deal?

Renovated the bathroom and added some new appliances to the kitchen.