Updated almost 4 years ago on . Most recent reply
Logan Townhouse Rental
Investment Info:
Townhouse buy & hold investment.
Purchase price: $267,000
Cash invested: $53,400
Logan townhouse, 2 bedroom 1-1/2 bath.
What made you interested in investing in this type of deal?
It was a low maintenance, turn key rental property. It is a townhouse in great condition, the exterior and yard are all taken care of by the HOA.
How did you find this deal and how did you negotiate it?
I found it on the MLS and competed with 14 other buyers to get it under contract.
How did you finance this deal?
Conventional financing with a partner.
How did you add value to the deal?
It was great as is.
What was the outcome?
It is renting really well and producing cash flow.
Lessons learned? Challenges?
You can purchase cash flowing investments even in a crazy market like we saw in 2020.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represented myself and my partner. We used First Colony Mortgage for the lending and they were great.
