Updated over 6 years ago on .
1031 Exchange property #1
Investment Info:
Single-family residence buy & hold investment in Naples.
Purchase price: $190,000
Cash invested: $5,000
2 Bedroom condo overlooking the Ritz Carlton golf course
What made you interested in investing in this type of deal?
I needed to find properties to roll over my proceeds using a 1031 exchange
How did you find this deal and how did you negotiate it?
I analyzed over 100 two bedroom + condo units and this produced positive cash-flow
How did you finance this deal?
50% equity using a portion of my 1031 ex proceeds
How did you add value to the deal?
new A/C and furnishings
What was the outcome?
$200/mo cashflow
Lessons learned? Challenges?
Rents were not as high as I expected
