Student apartment cash cow
Investment Info:
Single-family residence buy & hold investment in Raleigh.
Purchase price: $123,000
Cash invested: $10,000
3.5 bath student apartment
What made you interested in investing in this type of deal?
It was near a university and was never vacant.
How did you find this deal and how did you negotiate it?
It was presented at meetup by the selling agent. the numbers made sense. No negotiation.
How did you finance this deal?
30-year conventional, fixed term
How did you add value to the deal?
None
What was the outcome?
It has appreciated to $247000 and cash flows $1000.00 monthly
Lessons learned? Challenges?
I should have bought as many as I could back then.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
yes but I forgot their names.