Condo rental in Milwaukee

4 Replies

Investment Info:

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?

Cash

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?

No

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?

@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.

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