Single-family residence buy & hold investment in Albany.
Purchase price: $20,000
Cash invested: $13,500
Sale price: $55,000
This property was bought as a buy and hold property that required heavy
(mostly) cosmetic upgrades inside and out. This project had some unique challenges but provided a great return and rented for higher than most (if not all) of the 2 bedroom homes in the neighborhood. The home rented for $649 per month and was leased for the full 12 month duration of lease and later sold.
@Ian Porter that’s great! Congrats. Curious how you picked Albany? I see you’re in Georgia. I’m in nyc and looking for locations to invest.
Hey Gaurav. Thanks! I am actually from Albany. I recently moved to Atlanta, but all of my previous investments were in Albany. It can be a good market for investing, but can also be an illiquid market and very tricky.
Well done Ian! It's tough to flip at that low price point and make a solid profit, congrats!
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