Updated over 2 years ago on . Most recent reply
Buy and Hold Purchase
Investment Info:
Single-family residence buy & hold investment.
Purchased a single-family home in a newly built neighborhood as my first investment. Currently my PR for the next 1-3 years (depending on market/life) with the option to either sell or keep it as a long-term rental if I can refinance.
What made you interested in investing in this type of deal?
Great neighborhood/location, a new build that could use a bit of work with low maintenance, and should rise in value due to the Tucson market.
How did you find this deal and how did you negotiate it?
Driving around.
How did you finance this deal?
7/6 ARM to get the best rate. 2023 rates were rough but was able to get a 4.75% rate.
How did you add value to the deal?
New paint, renovated the backyard, lighting fixtures, and new flooring.
What was the outcome?
Rock solid house for a small family.
Lessons learned? Challenges?
The numbers worked out in my favor but would've aimed for a duplex/triplex for a first purchase-to-house hack.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nichol MacGregor was my agent. She's amazing.
Jeff Miller was my lender and couldn't recommend him more.