Henry Street Condominium Unit

[JM Payne]

Investment Info:

Single-family residence buy & hold investment in Williamsburg.

Purchase price: $132,000
Cash invested: $7,000

2 bedroom, 2.5 bath 1800 sq. ft. condo unit currently rented on an annual lease and HELOC'd to provide investment capital.

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

Family

How did you add value to the deal?

Complete bathroom remodel with tile standup shower in master, new appliances, new back deck, refinish hardwood floors, paint.

What was the outcome?

Hold, rented.

Lessons learned? Challenges?

Don't buy in neighborhoods with HOAs! They eat profits.

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

Vince Campana, Campana Waltz Commercial Real Estate brokered for us and Virginia Payne of Liz Moore and Associates manages.