2nd Rental Property Completed

[Rob Baker]

Investment Info:

Condo buy & hold investment.

Purchase price: $60,000
Cash invested: $10,000

2 Bedroom 2 bath condo we purchased, renovated and are renting.

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

Quick, easy renovation. Cheap purchase price, cost effective renovations.

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

Found on the MLS. Negotiated through Realtor.

How did you finance this deal?

Private money loan at 8%.

How did you add value to the deal?

Replaced everything inside. All appliances, flooring, paint, fixtures.

What was the outcome?

We are renting for $1,250 a month.

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

Greg Chamish at Black Dog Home Group in Churchville, MD.