Updated over 3 years ago on . Most recent reply
Section 8 Housing and Fantastic Tenants
Investment Info:
Townhouse buy & hold investment.
Purchase price: $150,000
Cash invested: $40,000
Section 8 Row Home, excellent tenants, Baltimore City near Druid Hill.
1800$ a month in rent, 700$ cash flow.
What made you interested in investing in this type of deal?
Needed somewhere to throw my money from selling my last house.
How did you find this deal and how did you negotiate it?
Exhaustive home showings, figuring out what I wanted. Found a seller that had sat on the market for about 2 months. Initially wanted a duplex, but couldn't pass this up. Too easy.
How did you finance this deal?
Conventional financing with a larger bank.
How did you add value to the deal?
Didn't do anything except buy it.
What was the outcome?
Stand by for that.
Lessons learned? Challenges?
Be open to any type of real estate. This one was a surprise- I just said "Screw it, let's go see this property, seems too good to be true, also isn't what I initially wanted..but cashflow looks good." Use your calculator!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, Marisol Bonds as my agent. I pick an agent and stay with only one in the area.