Single-family residence buy & hold investment.
Purchase price: $618,000
Cash invested: $14,000
New home built be DR Horton. Great location. 0 Cash flow. big potential appreciation. I don't consider this an investment, but my wife and I wanted to live in a home that didn't need any work. Taking a break from living in rehab houses which we were fixing up while our 2 little children ran around a construction zone.
What made you interested in investing in this type of deal?
Very close to the hospital and biggest hotel on the island
How did you find this deal and how did you negotiate it?
found it driving around the neighborhood that is close to the most jobs on the island.
How did you finance this deal?
Used a 20/80 conventional loan
How did you add value to the deal?
added HVAC and landscaping
What was the outcome?
Nice home sitting on $200K equity which I can pull 90% out when next deal found.
Lessons learned? Challenges?
Sometimes happy wife = happy life is better than a cash flow property.
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