Bought one town house and then the other half.
Investment Info:
Townhouse buy & hold investment.
Purchase price: $180,000
Cash invested: $36,000
Owner approach me to purchase other half of Townhouse.
What made you interested in investing in this type of deal?
To own both sides.
How did you find this deal and how did you negotiate it?
Owner approach myself and I negotiated what the going market was in the area and the work that needed to be done to property. Also found a Real estate agent to do the deal for 1% and we split the savings and the cost of closing.
How did you finance this deal?
Conventional 20 year loan.
How did you add value to the deal?
Updating property
What was the outcome?
Getting ready to sell.
Lessons learned? Challenges?
Challenges is keeping it full.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not really. Sellers agent bowed down to do the deal for 1% to meet my real estate agents fee or he was going to loose the deal.
