Single-family residence buy & hold investment.
Purchase price: $193,000
Cash invested: $20,000
Purchased a completely dated condo. Did all the renovation work by myself. Rented it out
University Greens. Across the 60 from UCR
@Charles Simon how many bedrooms and how much are you renting it for? what is your cashflow like?
2 bedrooms renting for $1600. I bought it prior to listening to bigger pockets so I am only bringing in $200 per month on top of actual expenses. The value is that I purchased for $193k and comps are already over $240k.
Are the comps listed comps or sold comps?
Comps sold at $243,000 3 months ago. If I were to list it I would put it on the market at $250,000. I offered it to my tenants for $240,000 with an extra $5,000 towards closing. No dice because they want to buy a fixer.
How did you purchase the property? Is your cash invested the down payment or rehab cost?
What are your long term goals with the condo?
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