Single-family residence buy & hold investment in Milwaukee.
Purchase price: $290,000
Cash invested: $310,000
Bought it to live in, but then decided to move. Now it is generating about 1% CoCRoi
What made you interested in investing in this type of deal?
Condo to live in
How did you find this deal and how did you negotiate it?
Bought as an as is condition, rehab it
How did you finance this deal?
How did you add value to the deal?
New wood floor, granite counter top, stainless steel appliance
What was the outcome?
Unit appreciate about 15% over 8 years of ownership
Lessons learned? Challenges?
It is hard to not use the cash flow to invest into another property
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Updated almost 2 years ago
I miss calculated on CoCRoI.. it should be about 3.4%
@Ivan Chen congratulations on the rehab! With your cash on cash return being at 1%, do I asume correctly that you own it free and clear? Any thoughts about financing it to boost your CoC?
Yea I own it free and clear.
@Ivan Chen congrats man. Seems like alot cash invested for $3100 per month. But I guess there is room for appreciation here too. All the best man. With that much cash invested are you able to continue to grow? Would you at least break even with 80% leverage on the property? I know that many people do not agree with obtaining debt on their investments but I'm just thinking of the time value of money and the current inflation rate when I see these sort of deals.
@Marcus Auerbach tell me more about this financing option?
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