Furnished rental home in Denver
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $625,000
Cash invested: $133,000
This home was David Weekly model home. I first bought it and leased back to the builder for 18 months. Super easy and great start to the investment. Now, I have it furnished still with everything from it being a model home and have been able to get good rent for long-term renters needing a furnished home.
What made you interested in investing in this type of deal?
I love new homes and model home so when this opportunity came my way, I jumped at it.
How did you find this deal and how did you negotiate it?
I was working with a client at the time who was building a David Weekly home and I had got to know the sales people and so when they deal came up, they reached out to me.
How did you finance this deal?
I had two high rise condos I was selling and did a 1031 exchange to purchase this home with the sale of one of the condos.
Lessons learned? Challenges?
Challenges have been finding good renters to take care of the home and the furniture.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a real estate professional