Second Investment... a possible double
Investment Info:
Townhouse buy & hold investment in Tampa.
Purchase price: $286,305
Cash invested: $37,382
New construction townhome recently purchased for a buy and hold
What made you interested in investing in this type of deal?
I wanted to purchase my second property and it had the best COC ROI of the ones presented by my agent. It felt safe/conservative b/c it was new construction.
How did you find this deal and how did you negotiate it?
Through an agent friend.
How did you finance this deal?
Traditional. 10% down b/c 15 or 20 wasn't worth the difference based on my cash flow strategy.
How did you add value to the deal?
I made better choices with choosing the materials.
What was the outcome?
We had a tenant in place 12 days after closing escrow for $100/month more than what my agent thought we could rent it for.
Lessons learned? Challenges?
I still need to be more involved - run comps, etc.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Kris Kennedy - Tampa and Orlando
