Second Investment... a possible double

[Bradley Swett]

Investment Info:

Townhouse buy & hold investment in Tampa.

Purchase price: $286,305
Cash invested: $37,382

New construction townhome recently purchased for a buy and hold

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

I wanted to purchase my second property and it had the best COC ROI of the ones presented by my agent. It felt safe/conservative b/c it was new construction.

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

Through an agent friend.

How did you finance this deal?

Traditional. 10% down b/c 15 or 20 wasn't worth the difference based on my cash flow strategy.

How did you add value to the deal?

I made better choices with choosing the materials.

What was the outcome?

We had a tenant in place 12 days after closing escrow for $100/month more than what my agent thought we could rent it for.

Lessons learned? Challenges?

I still need to be more involved - run comps, etc.

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

Kris Kennedy - Tampa and Orlando