Updated about 3 years ago on . Most recent reply
New Construction with immediate equity
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $230,490
Cash invested: $48,500
New construction 4/2.5 1965 sqft. Found this deal via Builder connection and was able to assume a contract that fell through at original asking price. At closing already had a $30K equity position.
What made you interested in investing in this type of deal?
Knowing the builders were delaying builds and increasing prices by every 4th sale at about 1%, made it fairly predictable.
How did you find this deal and how did you negotiate it?
Networking with builders
How did you finance this deal?
Conv 30 , 20% down
How did you add value to the deal?
Time did that for me, waited about 4 months to close.
What was the outcome?
Tenants moved in the day after we closed and have been living there ever since.
Lessons learned? Challenges?
Don't try to use some old Crypto portfolio from 2015 to make down-payment.
