A Condo in Walled Lake city center - High potential for long term rental income

[Hemanth Chakravarthy Mudduluru]

Investment Info:

Condo buy & hold investment.

Purchase price: $230,000
Cash invested: $50,000

2 Bed 2 Bath Condo with attached 2 Car Garage in Walled Lake city center. Very close to Walled Lake schools. Walkable distance to Walled Lake Beach and Michigan Air-line trail. All major stores like Costco, Walmart, Kroger, Dollar General, Dollar Tree, Lowe's, Home Depot, and Aldi are in a 2 to 3-mile radius.

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

Location, price and low HoA.

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

Zillow.

How did you finance this deal?

Conventional loans

Lessons learned? Challenges?

It is possible to buy Non-warrantable Condos with the help of local Credit unions.