Value Add STR Condo with strong cash flow & appreciation.

[George Mevawala]

Investment Info:

Single-family residence buy & hold investment in Scottsdale.

Purchase price: $195,000
Cash invested: $25,000

It was a value add opportunity to buy a 2 bedroom/ 2 bath condo that needed some TLC with breathtaking views of Scottsdale. I acquired the property and complely remodeled ( new floors, new granite, paint, bathrooms, tiled chimney, hardware, doors, sinks and furnishing.) The unit is currently worth around 250k and is another succesfull STR property.

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

It was a value add opportunity that hit the market, and I was able to secure it in under 48 hours of being on the market.

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

I found it on MLS, and loved the location and views.

How did you add value to the deal?

Complete remodel.

What was the outcome?

Both appreciation and upside potential.