Buy and Hold condo purchase
Investment Info:
Single-family residence buy & hold investment in Manchester.
Purchase price: $75,000
Cash invested: $24,000
1 bedroom 1 bath 3rd floor condo.
Purchased off market and was fully remodeled 5 years prior to purchase.
Bought from a friend that just wanted it sold as they were looking for a house but needed to stay after sale for a short time. So was able to make below market deal without any realtors.
How did you find this deal and how did you negotiate it?
Friend wanted to sell before buying new house but needed to stay till new house closed
How did you finance this deal?
Conventional financing with 20% down
What was the outcome?
Been a great cash flow unit.