Just signed on my first deal!

[Cole Castellano]

Investment Info:

Single-family residence buy & hold investment in Honolulu.

Purchase price: $210,000
Cash invested: $41,790

Waikiki Condotel studio
Zoned for short-term rental
Should cashflow $1,500 per month through Air BnB
Will be putting about $7,000 into renovations
Estimated ARV - $235,000

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

A friend bought a similar deal and is killing it.

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

Found on MLS listed at 225. I offered 195 and met in the middle with the seller at 210.

How did you finance this deal?

Conventional Loan with a Credit Union. They were able to do 19.9% down even though its an investment property.

How did you add value to the deal?

Planning on putting in new floors, new kitchen counters, and cabinets. Also, planning on redoing the bathroom and putting in a shower. Then if we can, we will install new accordion-style glass doors to the 2 balconies.