1 Bedroom Condo in NB

[Jairo Paredes]

Investment Info:

Condo buy & hold investment in North Bergen.

Purchase price: $165,000

1 bedroom apartment in upper North Bergen. Next to the county park and located on the corner of Bergenline. Restaurants, shopping, and public transportation right outside the door.  

Paid cash at closing and now working on refinancing. CoC Return should be in the teens following the refinance.

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

The area. I love the area and the building is centrally located to everything a person would need.

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

MLS. Made an offer same day it was listed.

How did you finance this deal?

Cash at closing. Working on refinancing.

How did you add value to the deal?

Upgraded electrical per code. Added new tenant.

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

My broker, Derek Gomez from Remax Villa Realty.
Evelyn Ortiz/mortgage broker.
Jose from K&C Electric & Security - Electrical Contractor
Michael - Liberty Mutual - Insurance
Israel Paint - Great local Benjamin & Moore paint & supplies store