Updated about 4 years ago on . Most recent reply
My Jackson Ward condo rental
Investment Info:
Condo buy & hold investment.
I turned this into a rental property and was also on the HOA board here.
What made you interested in investing in this type of deal?
I bought this unit with cash, lived in it for 3 years, and then leased it out. I opened an equity line and was able to start doing renovations with it!
How did you find this deal and how did you negotiate it?
This was a short sale
How did you finance this deal?
Cash
How did you add value to the deal?
I bought, held, and then collected rental income.
What was the outcome?
It was an amazing learning experience! I need up selling and moving on to more projects.
Lessons learned? Challenges?
Make sure your HOA has filed all the correct paperwork to accommodate a FHA loan!