Updated over 2 years ago on .
Miramar light-industrial Warehouse
Investment Info:
Industrial industrial investment investment.
Purchase price: $120,000
Cash invested: $25,000
Found the property on FB marketplace. Seller financed deal, 10yr note, 30yr Amortization schedule @6.5%
What made you interested in investing in this type of deal?
It was my company's first rental property purchase. Deciding to just jump in the deep end and learn as we go!
How did you find this deal and how did you negotiate it?
FB marketplace and the seller was very motivated, in need of cash.
How did you finance this deal?
Seller financed the deal
How did you add value to the deal?
I completely rehabbed the unit. It was built out without permits, so I demo'd the entire interior and made it an open workspace
What was the outcome?
The outcome was being able to raise rent from $1100/mo to $1500/mo!
Lessons learned? Challenges?
I learned that if you are open minded and willing to go outside of your comfort zone, there are deals to be had.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No this was a direct to seller transaction