Townhouse Condo, Ridgewood

[Eric Haskell]

Investment Info:

Single-family residence buy & hold investment in Bedford.

Purchase price: $233,000
Cash invested: $10,000

Townhouse
2 bedroom 1/2 bathroom
1 car garage

Used as a rental, tenants are both professionals.

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

After graduating from college, I needed a house to live in. Looked at townhouse since it would be easier to manage due to traveling required for profession.

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

Realtor, MLS

How did you finance this deal?

FHA loan

How did you add value to the deal?

move in ready, interior minor renovations-paint, fixtures, flooring

What was the outcome?

Great rental for the last 12 years, great tax write-off.

Lessons learned? Challenges?

A good management company is key when buying a townhouse/condo association