Condo cash purchase

[Steven Anderson]

Investment Info:

Single-family residence buy & hold investment in Idaho Falls.

Purchase price: $90,000
Cash invested: $100,000

3 bed 1.5 bath condo

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

I had one in the complex and it is a great property. Figured 2 would be even better!

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

RE agent on the ground found it. We worked through purchasing a different one and instead moved to this one. Better, cleaner, less work to make ready

How did you finance this deal?

cash

How did you add value to the deal?

upgraded floors, bathrooms, cleaned it up.

What was the outcome?

clean looking unit that rents well.

Lessons learned? Challenges?

used 2 different contractors for make ready. wont do that again. will use one start to finish.

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

Yes, Brad Simonson - he loves to negotiate with sellers and has my interest at stake.