Single-family residence buy & hold investment.
Purchase price: $205,000
3 bed / 2 bath 1,560sf corner lot rambler with 2 car garage and fully fenced backyard. Easy access to highway 17 and schools, lake and recreation.
What made you interested in investing in this type of deal?
This home met our SFH investment criteria of 3 bed/2 bath/garage and fenced yard - this neighborhood is centrally located and ideal for anyone new to the community. If my husband and I were moving to ML, we'd want to live here! The open layout/single story floorplan are appealing to a variety of renters.
How did you find this deal and how did you negotiate it?
MLS - drafted my own valuation and submitted it to buyers agent
How did you finance this deal?
Conforming 30 yr bank note
How did you add value to the deal?
Minor repairs, interior paint and deep cleaning. Have not had a chance to remodel or upgrade anything as its been leased the entire time!
What was the outcome?
Lessons learned? Challenges?
Targeting a property for sale before the owners have had a chance to stage it is a huge advantage - our agent (Jennifer Kron with MLRG) knew it was coming on the market and we were able to see it and submit an offer before staging/open house. The sellers were happy to have a deal in hand before they had moved into their new place!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Jennifer Kron at Moses Lake Realty Group - she is our trusted agent, property manager and partner in all of our Moses Lake properties. Cannot recommend her highly enough.
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