First Unit 140 Chestnut St

[Luke Saglimbeni]

Investment Info:

Other buy & hold investment in Springfield.

Purchase price: $35,000
Cash invested: $35,000

First rental unit, all cash deal located near new MGM casino in Springfield. Inherited A++ tenant that takes great care of unit and is a handy man. Cashflow is well north of 200/mo and hit the 2% rule

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

I am a white collar guy so a condo helps me especially with limited handy man work. Tenant made the decision a lot easier to buy. We had competitors so an all cash offer won out in the end.

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

Zillow, cash

How did you finance this deal?

all cash

How did you add value to the deal?

accountant and tax guy cuts down on expenses

What was the outcome?

buy and hold too early to tell

Lessons learned? Challenges?

Keep buying more!!! Not a fan of financing as it seems hard to obtain. First few properties all cash will make monthly income more, making financing easier to obtain by self.

Hard to find trustworthy highly held accountable blue collar investors or contractors.

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

Zaisha Robert is an amazing agent. Working on other team mates now.