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

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

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)
- Furnished Finder Expected Rental Income needs to be 25% over PITI

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

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.

How did you finance this deal?

Conventional

Lessons learned? Challenges?

- 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. 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.

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

Millie Pendola with Keller Williams Realty
Braydin Mehnert with the One Brokerage