The condo near UGA

Investment Info:

Condo other investment.

Purchase price: $143,000
Cash invested: $10,000

My son lived there for 3 years while he went to UGA. now it's on the market he's moved out. $229,000. The HOA there is 331 right now but that does include your water and hot water. It is 1 mi from UGA classes in Athens Georgia. Currently the outside of the condo buildings is being renovated. Condo has new paint, new carpet, new stove that's a air fryer, new air conditioning system, on the ground floor.

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

We needed a place for my son to Live While he attended classes at UGA

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

I had to pay all cash so scrape together everything I had about 12 buyers were trying to buy it at the same time

How did you finance this deal?

Sellers would not wait for any financing would have to be all cash

How did you add value to the deal?

Well it is all fixed up now but the 3 years that my son lived there real estate prices have appreciated

What was the outcome?

It is on the market now

Lessons learned? Challenges?

Older walls take a lot of paint best to use kilz first

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

My brother is a broker. I had my real estate license for one year about 50 years ago, LOL. My Grandad was a broker my dad was a broker both my brothers were brokers I guess real estates in our blood