Single-family residence buy & hold investment in Vernon.
Purchase price: $505,000
Cash invested: $100,000
We sold our condo at a high value and purchased a 3/3 single family house on .25 acre. Invested cast was the down payment.
How did you find this deal and how did you negotiate it?
Found it on the MLS and just wrote offers with conditions. We were the second accepted offer as the first could not qualify.
How did you finance this deal?
Down payment was payed from the sale of our previous 2/2 condo.
How did you add value to the deal?
Finished the basement, updated the windows and increased the curb appeal with planter boxes and flowers.
What was the outcome?
Plan to keep it for a while as our principal residence, raise our little family and see what comes up in the future.
Congratulations on your single family home. Keep up the great work.
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