Laguna Niguel Buy and Hold

[Bram Klein]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $425,000
Cash invested: $35,000
Sale price: $590,000

Bought an older 1980's 2 bedroom condo directly from the Sellers. Updated flooring, paint, appliances, kitchen and master bathroom. Kitchen from IKEA. All demo by me and my daughter. Bought it low, updated it, rented it for $2700 a month, set a record for the rental amount, refinanced it and sold it later for a profit.

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

Single story townhomes with a 2 car garage attached are quite rare. I recognized a great opportunity to upgrade a property without having to move walls. Local property near my home and was able to hire out locals I have used and trusted in the real estate industry as an agent. Easy rental community near the coast.

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

Sellers reached out to me as a real estate agent. Found market price and subtracted commissions and repairs.

How did you finance this deal?

Conventional.

How did you add value to the deal?

See above.

What was the outcome?

Profit.

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

I represented myself on the purchase. Buyer's agent represented a Buyer when I sold it.