Single Family Home (South Colorado Spriings)

[Patrick Wiggins]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $370,000
Cash invested: $60,000

Single Family home that was iin need of repair/upgrades. Currently I have fresh paint on the house (inside and outside), new doors (Garage and entrance), Solar Panels (10K system w/ LG Battery), and exterior aesthetics upgrades.

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

This is my 3rd fix er' upper.

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

NMLS and standard negotiating during contracting

How did you finance this deal?

VA Home Loan

How did you add value to the deal?

Various upgrades

What was the outcome?

TBD

[Maxim Lorenz]

@James Carlson I am contemplating whether another investment property in CoS makes sense. Number-wise, i don't think it does. I am getting ready to rent my current home in d20 and looking to buy around 80910 up to 300k to fix it up. However, with today instment property rates, with a down-payment of 15-25%, and payments stretched over 15 years, all in all is about $2600/mo, which to me seems like no one in 80910 will rent for that much. What's your take? Also, while I haven't shopped aroun in-depth, there seems to be insignificant difference in rate between va, conventional, or even investment (if I have the downpayment).