All Forum Posts by: Kathy Corressell

Investment Info:

Condo buy & hold investment in Miami Beach.

Purchase price: $250,000

I purchased as my primary residence in 2016, during quarantine in 2020 I decided to refi to a super low rate, rent it out and move in with my best friend.

Investment Info:

Condo buy & hold investment in Miami Beach.

Purchase price: $250,000

I purchased as my primary residence in 2016, during quarantine in 2020 I decided to refi to a super low rate, rent it out and move in with my best friend.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $162,000

Single family brick ranch. Long term tenants. I have a property manage and its totally passive. The value of the home has gone up significantly, considering selling in 2022 and using the profits to invest in Miami or Indianapolis on something less passive

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $285,000
Cash invested: $20,000

Duplex 2 miles outside of downtown Indianapolis. 3/2 and 1/1. 1/1 was rented below market at 900/month, now rented for 1450. 3/2 underwent minor reno and fully furnished to use for short term rental. Currently rented to travel nurses for 2600/month. Mortgage/tax/ins is 1400/month.

Investment Info:

Condo buy & hold investment.

Purchase price: $250,000

I purchased as my primary residence in 2016, during quarantine in 2020 I decided to refi to a super low rate, rent it out and move in with my best friend.

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

Bought as a primary home but after living in it for 4 years and paying down the loan it turned into a great rental as rents in Miami Beach are super high and the property was relatively inexpensive.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $520,000
Cash invested: $60,000

House hacking this property with my best friend. We went 50/50 on it. Its a 3/2 and a 1/1 on a huge 11,000 sq ft lot. Did a pretty massive renovation in about 6 weeks. We rent the 1/1 to travel nurses fully furnished and rent the master br to a friend. 1/1 rented for 2400 and the master br rented for 1300. Mortgage is 3400.

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

I wanted to house hack to get my investing started and Miami properties are so expensive that I needed to house hack to avoid using all my money for the down payment.

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

Found on realtor.com, sent it to my agent and made an offer within 8 mins of it being on the market.

How did you finance this deal?

conventional loan 5% down

How did you add value to the deal?

Gutted the 2 bathrooms in the 3/2, new counter tops and backsplash, paint. In the 1/1 all new floors, moved a wall, all new bathroom, new paint. The backyard was a dirt pile, added a new large patio and landscaping, all new grass.

What was the outcome?

Living 100% for free