Just bought a condo in my Dream Zip Code

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Investment Info:

Condo buy & hold investment in Los Angeles.

Purchase price: $581,000

2/2 owner occupied condo with roommate

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

I have been looking for an opening into this zip code for the past two years. Between the low interest rates from the pandemic and this unit needing a minor face lift, I was able to acquire it for what I’d consider a deal for the location.

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

Found it via Redfin and used some of its antiquated features to negotiate the sale price.

How did you finance this deal?

30 yr conventional loan

How did you add value to the deal?

Updating 1 shower and reglazing the other.

Lessons learned? Challenges?

No longer listening to my agents when they tell me to offer more on the initial offer.

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

I recommend owning.com! Got a 2.5 rate from them.