Stuart, FL 4/2 buy / hold

[Bob Pudlock]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $340,000
Cash invested: $35,000
Sale price: $569,000

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

Buy and hold property in Florida subdivision that had seen limited home appreciation since original owner purchased home in 2015.

Purchased home from estate at 15% under list - sold two years later near peak of local market.

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

Through real estate agent

How did you finance this deal?

10% down 30 year fixed - personal and business circumstances allowed me to buy / hold and realize home price inflation with limited repair and monthly expenses - insurance costs were low due to full hurricane protection, new roof, etc.

How did you add value to the deal?

Replaced floors, landscaping, interior / exterior painting and minor electrical updating

What was the outcome?

Sold at peak of market to cash buyer

Lessons learned? Challenges?

This was an ideal investment - made money on the front-end negotiating against an 11 member estate.
All repair and improvements(limited) were made with the intent to maximize resale.
As with any investment, the lessons learned are to just become more efficient and strategic with decision making(when to repair / replace / upgrade) and whether to do myself or utilize vendor.

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

During period of ownership, I got my Florida real estate license and sold the house myself.