Updated about 2 years ago on .
9043 Harlequin Cir.
Investment Info:
Single-family residence buy & hold investment in Longmont.
Purchase price: $612,000
Cash invested: $36,000
After my first home purchase went so well, I decided to attempt the same strategy again. This issue this time, however, is interest rates had increased numerous percentage points making the possibility of living for free much less likely. To combat this, I did a 2-1 buydown to temporarily lessen my monthly payments. At the moment, this house loses me about $1,000/month with my living in it, but once the basement is finished, which will include a walkout and kitchen, and my interest rate matures later this year, this home will bring in about $287/month without me living in it.
Soon to be 5 bedrooms, 5 bathrooms, 3,822 finished square feet.
What made you interested in investing in this type of deal?
Once again, this property had a great setup for house-hacking considering every room had its own bathroom.
How did you finance this deal?
Conventional mortgage.
How did you add value to the deal?
I am finishing the basement. This should add significant value and allow me to pull out my investment and more when it's time to refinance.
