Investment Condo turned in a quick profit in as little as 2 years

[Sidrit Veselaj]

Investment Info:

Other buy & hold investment in Quincy.

Purchase price: $156,500
Cash invested: $40,000
Sale price: $226,000

Condo, held (rented) for two years and then sold it for a nice little profit

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

Good cash flow considering the rent in the area

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

Found through realtor and negotiated the price down from $160k to $155k

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Small improvements such as painting and updating some of the appliances (dishwasher and stove)

What was the outcome?

Market appreciation over 2 years building a good equity and mortgage being paid down from the monthly rentals. Sold it instead of putting more of my money to fix kitchen and bathroom.

Lessons learned? Challenges?

If you see the right opportunity to buy or sell, try to move quickly. Good opportunities don't stay in the market for too long, especially in a seller's market

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

Arian Simaku from Simaku Realty