Low entry condo with stable income

[Kelly Johnson]

Investment Info:

Condo buy & hold investment.

Purchase price: $82,000
Cash invested: $82,000

2/2 condo in a travel destination but not possible to rent this out on short term basis.

What made you interested in investing in this type of deal?

This was my first property turned rental after my mother moved out of it and I needed to decide what to do with it.

How did you find this deal and how did you negotiate it?

word of mouth from another owner occupant in the community. Paid offer price b/c units do not come available often.

How did you finance this deal?

cash

How did you add value to the deal?

Unit was already remodeled when I purchased it.

Lessons learned? Challenges?

Fairly straight forward deal that hasn't had any challenges in keeping it rented.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no agents involved