Two Condos in Tampa

[Shannon Cohan]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Tampa.

Purchase price: $142,000
Cash invested: $8,000

Two 1 bedroom 1 bath condos in the heart of Tampa Bay. Both units were bought from New Western Acquisitions in Tampa. The properties sit in-between two major developments, Midtown and the new Westshore shopping district. Both will bring new retail, commercial and residential spaces to the area. Currently market rent sits at $900 to $1000 each within two years once the development projects are completed we expect to get on average over $1100 for each.

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

New Western Acquisitions Tampa

How did you finance this deal?

Cash Purchase.

How did you add value to the deal?

Updated cosmetics.

What was the outcome?

One is rented out at $925 the other is currently still being updated.

Lessons learned? Challenges?

This deal was smooth and straight to the point.

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

Represented myself on the transaction.