Buy and Hold Investment in Roanoke, TX

[Michelle Jaramillo]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $595,000
Cash invested: $100,000

Planning to hold on to this property for a minimum of 5 years. The home was two years old when the transaction closed. It is located in a subdivision where new construction homes are still in the process of being built.

What made you interested in investing in this type of deal?

Home was priced $100,000 less than any of the new construction comparables that were taking 1 year+ to complete and was located in a top-rated school district.

How did you find this deal and how did you negotiate it?

I am a Texas Real Estate Agent the moment the home was listed on the MLS I toured it. I had a chance to meet the sellers during the tour and they disclosed they were in urgent need to sell because they were moving to Orlando, FL for a new career opportunity. I offered a 60-day closing, 20% downpayment and they accepted.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

As the Real Estate agent, I was able to see the home hit the market the second it was listed and having a clear understanding as to what new build homes were selling for in the same subdivision was a total game-changer.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I represented myself as the Real Estate agent.
I worked with Shannon Alexnder who is a Senior Loan Officer (NMLS 377688) with Fairway Mortgage. She was amazing throughout the entire process and was able to get me to the closing table without any issues.