Investment Info:
Single-family residence buy & hold investment in Fort Lauderdale.
Purchase price: $224,900
Long term rental. Getting $1900 a month.
What made you interested in investing in this type of deal?
I bought the home to live in it then to eventually turn it into a rental. It has been a rental for a little over three years now and has a good cash flow. I plan to turn this property into a short term rental in the new year or two.
How did you find this deal and how did you negotiate it?
I found the neighborhood first, then found the house.
How did you finance this deal?
15 year fixed.
How did you add value to the deal?
Updated the appliances, fenced in the backyard. I plan to put in a second bathroom, eventually.
What was the outcome?
Updating the home keeps the tenants happy.
Lessons learned? Challenges?
Dealing with tenants is not always easy but its worth the hassle.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, I work with Anita Perl for my financing. She is the best in the biz.
