MTR Close to Hospitals - $850/Month in Cashflow

[Millie Pendola]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $104,000
Cash invested: $20,000

Deal Deep Dive:

Strategy: Buy and Hold Mid-Term Rental

Buy Box:
- Within 15 minutes to a major hospital
- Within 10 minutes to a Starbucks (LOL)
- At least two bedrooms
- Light Rehab Only (paint/floors/decor)

How I Found the Deal: '
- networking with fellow local agents (I am an agent, for context)

How I Negotiated the Deal:
- Gave the seller what they were asking for to get in contract
- Negotiated seller credit based off inspections
- Told the agent who brought me the deal that HE could represent ME in the deal, which made it a win-win-win. Seller got what he wanted, the agent double sided the deal, and I get a killer property that will cashflow.

Furnished Finder Expected Rental Income: $750-$850/mo PER ROOM

What I Learned:
- Serious investors will write on a deal that fits their buy-box
- Knowing your buy-box will create an easy decision making matrix for you to move quickly on deal that work
- Have your "ducks in a row" so when you find a deal that works, you can perform
- Be someone who performs in contract - barring glaring issues with properties - if you write on a deal AND close, you are more likely to be presented with future deals FIRST because you take action
- Be someone who other people and other agents ENJOY working with. This is honesty the biggest one. People do business with people they like, and trust. This will give you such an edge on getting deals flowing to you and people working FOR you!

Build a Legacy Worth Leaving