Sold Condo in South Boston for 1031 Exchange

[Philip Ganz]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $345,000
Cash invested: $40,000
Sale price: $605,000

A gorgeous renovated kitchen features white shaker style cabinetry, with granite counter tops, SS appliances & gas cooking! Two levels of living space with gleaming hardwood floors all throughout & a multitude of windows allowing for sunshine & natural light. Two large bedrooms with generous closet space on the main living level! The bathroom offers modern fixtures & a large white shaker style vanity w/ marble countertops & plenty of storage! Plus a bonus room on lower level!

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

South Boston was about to increase in value.

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

Realtor, fast close.

How did you finance this deal?

Conventional financing.

How did you add value to the deal?

New kitchens, bathrooms, painted and closets.

What was the outcome?

Made 200k which was used for 43 Cypress Street Purchase.

Lessons learned? Challenges?

I waived home inspection. if you waive home inspection you should still get the home inspected after purchase.

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

realtor.