St. George Townhouse

[Anthony White]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $172,000
Cash invested: $10,000
Sale price: $185,000

We bought this property in the highs of the real estate market in 2007. It took a while for the value to come back up. We lived in it for about 6 years, then rented it out. We sold it after a renter destroyed it in 2018.

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

I got my first job out of college and the market was high and needed a place to live. I got my parents to invest in a townhouse to live in and then planned on renting it out after we found a bigger home.

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

We did this deal through a local realtor that we knew.

How did you finance this deal?

SBA Loan and savings.

What was the outcome?

The market crashed and we had to wait out quite a while for the market to come back up.

Lessons learned? Challenges?

There are always homes. Be patient. Don't jump at the first thing.