Single-family residence buy & hold investment in Lviv.
Purchase price: $100
Cash invested: $7,000
This unit came free with an apartment I have purchased as a basement-storage space. It was large enough and suitable to convert it to a small rental unit. I have completed the conversion and rented it out. It flows $300 per month as a long term rental.
What made you interested in investing in this type of deal?
This was a no-brainer... :) It was there asking me to convert it to a usable, income-generating unit.
How did you find this deal and how did you negotiate it?
This came with a unit that I have purchased.
How did you finance this deal?
My own cash.
What was the outcome?
It has become a fantastic space that people love and it brings me income.
Lessons learned? Challenges?
This was a very creative project! :)
Nice job & good catch thinking outside the box per se.
We have a local woman who has an seasonal RV/Trailer park & she picked up several of the Amish cottage style sheds rehabbed them & rented them on a daily/weekly basis as 'cabins'. The park has a community shower/bathrooms/kitchen so each just required the basics. She was inundated with seasonal workers & had her entire investment paid off in one session.
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