Single-family residence buy & hold investment.
Purchase price: $230,000
Cash invested: $230,000
Single-family home; no mortgage on the property; purchased brand-new; was originally supposed to be a retirement investment; buy and hold strategy in place; rented since 2015
What made you interested in investing in this type of deal?
It was a decision based on need because my parents (who own the home) moved in with me so they turned their home into a rental.
How did you find this deal and how did you negotiate it?
It was a cash purchase originally meant to be lived-in by my Parents.
How did you finance this deal?
How did you add value to the deal?
It was purchased as a new model home in a newly developed neighborhood.
What was the outcome?
We have been renting it successfully since 2015
Lessons learned? Challenges?
It has a tremendous advantage in that the property is a new property with little or no maintenance issues.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Currently it is under management by a property management agency - Ambassador Realty
Currently set to $1495 per month
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