Quaker Landing
Purchased: April 2024
Price: $230,000
Terms: Seller finance, principal ONLY
Exit: Sell to a tenant-buyer or rent long-term
Overview: Nice, clean townhome that was owned free and clear by the seller. Seller gave us a great deal and agreed to accept their payments on installments for no interest, allowing us to build equity very fast. We did minimal paint and cosmetic work and have it on the market for-rent as of May 2024.
Exit Plan: Comps will begin to push 300K for a fixed up condo in the coming year or two, at that time we will look at our equity and see if we can work out a deal with the tenant-buyer for them to purchase at appraised value, or we will sell on the market.
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