Chicago condo meeting two separate life goals

[Jon Michael Patterson]

Investment Info:

Condo buy & hold investment in Chicago.

Purchase price: $167,500
Cash invested: $33,500

Purchased a condo in desirable Chicago neighborhood in which I lived in for one year prior to moving to Denver. I bought a condo that has excellent staff and maintenance crew that would minimizing my engagement being a long distance investor.

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

I was unclear if I would be approved to relocate with work so I strategically sought out a property that fit my living requirements but also rental property goals. I lived in the condo for one year while my request was processed and moved.

I found a property that met my buy and hold strategy. So while I realized very small positive cash flow, I expect it to grow.

While difficult to find a property that met two very different goals, I found a property that met my success criteria.

How did you finance this deal?

20% down and conventional primary owner loaner

[Dmitriy Fomichenko]

Congratulations @Jon Michael Patterson !