Single-family residence buy & hold investment in Lake Harmony.
Purchase price: $329,500
Cash invested: $33,000
Purchased a vacation home in Lake Harmony, PA. It's a Chalet 6 bedrooms, 3 Bathrooms, game room 2200 square feet.
What made you interested in investing in this type of deal?
Low money down, personal use and higher cash flow than a long term rental.
How did you find this deal and how did you negotiate it?
It was a For sale by Owner on Zillow. I used an agent and paid the fees for my agent since it was my first deal. Negotiated some inspection things but paid almost full ask.
How did you finance this deal?
Conventional 30 year mtg.
How did you add value to the deal?
Deck paint, powerwash outside, added fire pit, new hot tub, interior paint.
What was the outcome?
Its cash flowing really well and we use it on occasion as well.
Lessons learned? Challenges?
Would do this again for the right property. Am currently looking for the next AIrbnb.
@Patricia Baker thanks for sharing!
Lake Harmony! Probably the #1 spot for the Poconos. Very nice @Patricia Baker
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