Investment Info:

Single-family residence buy & hold investment in Poughkeepsie.

Purchased because it's .5 miles from Marist College and withIn a few miles of Dutchess Community College. Will be student housing or rented to a regular family

What made you interested in investing in this type of deal?

This is our fifth home, and I wanted to invest in something different than what's currently held in my portfolio.

How did you find this deal and how did you negotiate it?

Auction

How did you finance this deal?

Personal funds and conventional financing

How did you add value to the deal?

Took the property and renovated it to be worth $20-$30k more from the start.

What was the outcome?

Higher rent per month. Flood of applicants.

Lessons learned? Challenges?

Build ALL renovation costs into purchase budget. We did a lot of work ourselves which was daunting.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I handled the financing myself which made things easier. I have a good team of professionals that make my acquisitions much easier.