Third condo purchase

[Chris Worden]

Investment Info:

Condo buy & hold investment.

Purchase price: $93,000
Cash invested: $11,000

My third purchase took a little longer. I was an active agent for a few years at this time and wanted to make sure I made a smart investment.

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

Another close-to-the-train condo that I thought would perform well.

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

Watching the MLS with daily searches in areas I was interested in. I won this deal over 8 or 9 others presented within the first days on the market.

How did you finance this deal?

Cash

How did you add value to the deal?

I updated the kitchen and replaced the vanity in the bath. And had it painted.

What was the outcome?

Rented quickly to a professional in the area.

Lessons learned? Challenges?

Unfortunately I paid too much trying to win the property. I'm getting a good ROI and the property has appreciated but I think I got overly excited to buy it.

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

Jesse Myslinski was my attorney. He's very good.