My 4th. Investment Property

[Damon Stratton]

Investment Info:

Townhouse buy & hold investment in Mesa.

Purchase price: $119,000
Cash invested: $119,000

2 bed 2 bath single level townhome in Mesa.

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

Same community as my other two units. Already familiar with rents, and community and felt comfortable.

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

MLS Deal. It was listed for $121,000. I offered $119k cash.

How did you finance this deal?

Cash

How did you add value to the deal?

Tenant was already living in the unit. I kept tenant in there. I had no vacancy, and no repairs. Immediate cashflow.

What was the outcome?

Tenants have been there every since.

Lessons learned? Challenges?

I may have been able to aquire the unit for $115,000 but not sure.. Just happy I got it.

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

I represented myself. I am a licensed real estate agent in AZ.