Chicago condo meeting two separate life goals
Investment Info:
Condo buy & hold investment in Chicago.
Purchase price: $167,500
Cash invested: $33,500
Purchased a condo in desirable Chicago neighborhood in which I lived in for one year prior to moving to Denver. I bought a condo that has excellent staff and maintenance crew that would minimizing my engagement being a long distance investor.
What made you interested in investing in this type of deal?
I was unclear if I would be approved to relocate with work so I strategically sought out a property that fit my living requirements but also rental property goals. I lived in the condo for one year while my request was processed and moved.
I found a property that met my buy and hold strategy. So while I realized very small positive cash flow, I expect it to grow.
While difficult to find a property that met two very different goals, I found a property that met my success criteria.
How did you finance this deal?
20% down and conventional primary owner loaner