Buy and Hold Investment
Investment Info:
Townhouse buy & hold investment in Salado.
Purchase price: $580,000
Cash invested: $75,000
Townhome in the highly desierd Rosemont area. Purchased for $580,000, appraised for $640,000. With $60-70,000 worth of upgrades including capital expenditures value will stand at $800,000.
What made you interested in investing in this type of deal?
long term appreciation and value add potential
How did you finance this deal?
Market Research
How did you add value to the deal?
Forced appreciation
What was the outcome?
$60,000 in equity on the day of settlement
Lessons learned? Challenges?
Be a kind human and dont treat current tenants like they are worthless. Structure your offer to make it the most beneficial for you as the purchaser.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, myself. Evan Staats, Licensed Realtor in VA. Specializing in Old Town Alexandria with primary residences and investment properties.