Updated almost 4 years ago on . Most recent reply
First Investment Property - MTR
Investment Info:
Condo buy & hold investment.
Purchase price: $105,000
Cash invested: $3,000
Rent this out as a MTR
What made you interested in investing in this type of deal?
Originally I wanted to do STR but found out there were too many regulations in my area, so I researched MTR's and decided it was the perfect combo between LTR's and STR's
How did you find this deal and how did you negotiate it?
Found on the MLS and offered asking price no contingencies
How did you finance this deal?
Private money - no money down except for furnishing the unit which was about $3,000
What was the outcome?
I took about three weeks to furnish it - a little longer than it should've taken me and got my first renter within a month of closing