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Updated about 6 years ago,
Rental Properties in Edgewater Park NJ
Investment Info:
Single-family residence buy & hold investment in Edgewater Park.
Purchase price: $30,000
Cash invested: $20,000
Bought this large twin house originally as my primary residence.
I renovated the entire house with a small budget while living in it.
Since I bought for so cheap, I was able to do a refinance and pull out of lot of $ in equity.
When the attached twin was up for sale, I purchased that with some of the equity that I pulled out of my house.
I completely renovated the house and got tenants in there while I was living next door.
I have since moved out of this house and now rent both of these properties for a total cashflow of over $1,000/month.
What made you interested in investing in this type of deal?
This investment was originally by accident. I did not have the intentions of eventually buying the attached twin or renting the houses out.
After learning more and more about real estate, I eventually learned that this property presented a lot of opportunity for me.
How did you find this deal and how did you negotiate it?
I found this deal thru networking with a wholesaler
How did you finance this deal?
Originally bought with cash (private $) and did a refinance to pull out $
How did you add value to the deal?
I did all of the renovations myself and saved a lot of money doing so.