Easy equity built

[Randi Guthrie]

Investment Info:

Condo buy & hold investment.

Purchase price: $165,000
Cash invested: $15,000
Sale price: $228,000

Intended as buy and hold but market started to shift. So the property was sold to liquidate investment for another. Very little capital put in. Market increased

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

It was affordable and the terms were great when purchasing

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

The home was on MLS and not selling. So we negotiated for a seller financing deal with very little down and a very low interest rate

How did you finance this deal?

Seller financing

How did you add value to the deal?

Minor adjustments to paint and decor. Some small repairs made and mostly staging

What was the outcome?

Property equity went up by almost 40% in less than 3 years

Lessons learned? Challenges?

HOA and condo fees were a challenge but if you anticipate or budget it doesn't have to be