Condo rental purchased in foreclosure

[Gary Mingle]

Investment Info:

Condo buy & hold investment in Stonewall.

Purchase price: $450,000

Purchased property out of foreclosure, had problems with holder over tenant, but has been resolved, will rehab property to rent at FMV

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

Price and terms

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

came to me through my personal connections

How did you finance this deal?

assumed mortgage from seller

How did you add value to the deal?

purchased below FMV

What was the outcome?

buy and hold situation

Lessons learned? Challenges?

patience

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

no