Concord, CA 94520
Short Term Hold
We purchased this condo in 2013 for $80,000 and put $55,000 into repairs. We borrowed the full $135,000 from a private investor at 10% interest only payments. We rented the condo for $1,750/mo. for 1.5 years. We sold it in 2015 for $280,000 at which time we paid back the private lender. After commissions and fees, we used the remaining $128,000 profit as a down payment in a 1031 exchange to purchase an 8-unit apartment building.
Cash Flow while renting: $372/mo. ($4,464/yr.)