First property in my new city!!
Investment Info:
Condo buy & hold investment.
Purchase price: $289,900
Cash invested: $15,000
Bought a condo as my primary residence. Will be rented out when I move. From looking around prior, I am confident that due to the area of the condo, I can rent out for at least $200-300 over my total expenses for the property. I expect the area to appreciate over time as well.
What made you interested in investing in this type of deal?
Great spot for my wife and I to live while we are here, and when we move I believe it to be a good place to rent out.
How did you find this deal and how did you negotiate it?
Team I play for gave me the real estate agent that works with athletes here in MN. I paid full asking price, but got the seller to pay for about 85% of closing costs.
How did you finance this deal?
Traditional financing, and qualified for 5% down.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My agent is a good agent to work with as a normal person for a primary residence. When I look for investment properties I will probably look elsewhere.