Investment Info:

Condo buy & hold investment.

Purchase price: $125,000
Cash invested: $35,000

I made an offer that was accepted this week and close on August 25th.

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

Steady cash flow and LTRs are pretty low effort to manage, typically. I'm a W2 worker at Sr Management level. So, don't want to put a lot of time into it or pay a lot in property management fees.

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

MLS/realtor,com

How did you finance this deal?

Conventional. 401k loan funded down-payment.

How did you add value to the deal?

It was priced below market.

What was the outcome?

I bid $7k under list price. They had multiple competing offers. They accepted highest. That buyer backed out. The selling agent reached out to my agent and we quickly submitted a new offer at list price, which is a great price on a 3BR condo within 5 miles of oceanfront and reasonable HOA.

Lessons learned? Challenges?

If a property is already priced below market on the MLS, don't risk losing it by trying to go too low

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

Yes. Dayna Caradori