Property Management (Lease Option Agreement)
Investment Info:
Small multi-family (2-4 units) other investment.
Purchase price: $260,000
Cash invested: $5,000
This was a short term lease option agreement to help the original owner get back on track with monthly payments and upgrades.
What made you interested in investing in this type of deal?
Lessening the house hack strategy and rent to buy agreements.
How did you find this deal and how did you negotiate it?
Networked with an old colleague and helped minimize tenant issues.
How did you finance this deal?
Cash
How did you add value to the deal?
Maintaining and upgrading the property, hosting/viewings, short term rental (month to month) airbnb.
What was the outcome?
Frustrating but handled it well.
Lessons learned? Challenges?
Demographic and location is a major piece to the puzzle.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No, I haven’t