Rental Properties in Edgewater Park NJ

[Joe Sadusky]

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.