Investing in a property we could also enjoy!

[Celia Cortes]

Investment Info:

Townhouse buy & hold investment in Key Largo.

Purchase price: $427,000
Cash invested: $90,000

Purchased for STR and as a family vacation home in one of our favorite easy access places.

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

We love the Florida Keys and thought purchasing a property that we could use for STR as well as for our family vacation home was the best of both worlds.

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

This was on the MLS and we were happy to use an agent friend, so that she could get the commission. We negotiated down from $439k.

How did you finance this deal?

Traditional financing was used.

How did you add value to the deal?

Since purchasing we have made some minor cosmetic and logistical upgrades. Currently valued at $515k.

What was the outcome?

This is a long term buy and hold.

[Bonnie Low]

Congratulations on your beautiful purchase! I'm curious what your property insurance is costing on a non-owner occupied, STR in an area prone to natural disasters? I'm in northern CA where wildfire danger is a serious threat and we're seeing our insurance rates skyrocket. I would imagine FL would be the same.

[Dmitriy Fomichenko]

@Celia Cortes wow, nice!