Dallas Condo Long Term Hold (2 of 2)
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $37,500
Cash invested: $20,000
Sale price: $115,000
Bought in 2006 w/ traditional investor financing for 25% down, held and rented for 13 years, spent $11K in make ready for sale to earn top dollar. 1031 exchanged the proceeds and currently shopping DFW multifamily for replacement properties.
What made you interested in investing in this type of deal?
2006 Real Estate Frenzy!
How did you find this deal and how did you negotiate it?
REA
How did you finance this deal?
Conventional loan, 25% down, purchased as an investment property
What was the outcome?
Built substantial equity over the long term
Lessons learned? Challenges?
Start your investment career early on! The greatest passive wealth building comes from long term appreciation and the market cycle. Get rich slow!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Trevor Dyck