HeadQuarters / Rooms for rent
Investment Info:
Single-family residence buy & hold investment in Coventry.
Purchase price: $255,000
6 bedrooms
3 bathrooms
brand new hardware and appliances
spacious kitchen and yard
half finished basement
Currently living in it with a roommate/business partner
What made you interested in investing in this type of deal?
needed a place to live and call home that is big enough to grow into or rent rooms when/if needed.
How did you find this deal and how did you negotiate it?
after several months of looking at places with a RE agent. Property sits on an abandoned road and property line is misleading to what the property looks like. I knew after purchasing it I could petition the town to relinquish the abandoned road (disguised as my driveway) to me as they do not maintain it and is the only access to the house. I am hoping this will pay off in property value and equity when I re-finance in the near future.
How did you finance this deal?
20% down traditional mortgage
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Robert Crudale of Remax in Rhode Island i would highly recommend.