2 Bedroom 1 Bath Garden Style Condo - Long Term Rental

[Johnna Brown]

Investment Info:

Condo buy & hold investment.

Purchase price: $80,500
Cash invested: $20,000

This was my husband and I's first investment property that we purchased in 2017. We just fully renovated the property, new kitchen cabinets, countertops and backsplash. New bathroom tub and bathroom vanity. New flooring and paint throughout. Total cost approximately $15,000. We are renting now for $1600/ month (previously was renting for $1200/ month)

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

Great 1st/ starter investment property

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

Found on the MLS

How did you finance this deal?

Conventional 20% down financing

How did you add value to the deal?

Nothing at first, rented as we bought it. Just did a full renovation beginning of 2024 after tenant moved out and increased rent by $400/ month for new tenants