Updated over 1 year ago on .
Partnered Success in Arlington
Investment Info:
Single-family residence buy & hold investment in New Milford.
Purchase price: $140,000
Cash invested: $55,000
Sale price: $255,000
My business partner and I took on this Arlington property as a fix-and-hold investment. Purchased for $139,999 using a mix of cash and hard money, we revamped it with modern updates, including a new kitchen, flooring, and fresh paint.
The property rented for three years, generating steady cash flow of $450/month. In 2023, we sold it for $245,000, achieving a strong return and leveraging the experience to fuel future projects. Partnerships and smart financing made this deal a win!
How did you find this deal and how did you negotiate it?
My business partner and I found this deal through a wholesaler who flagged it as a solid investment opportunity in Arlington.
How did you finance this deal?
We financed the purchase using a combination of cash and a hard money loan. My business partner provided the upfront cash for the down payment, and we used hard money to cover the remainder and the rehab costs. This allowed us to close quickly and focus on adding value.
How did you add value to the deal?
The house needed significant updates, so we tackled the kitchen with new cabinets, countertops, and appliances. We installed fresh flooring throughout, updated the bathroom, and gave the entire property a fresh coat of paint inside and out. Additionally, we addressed plumbing and electrical issues to make the property fully rental-compliant. These updates made the property highly attractive to tenants.
What was the outcome?
The property was rented out from 2020 to 2023, generating consistent monthly cash flow of $450 after expenses. In early 2023, we decided to sell the property as the market had appreciated significantly. We sold it for $245,000, yielding a great return on our investment and allowing us to reinvest into other projects.
Lessons learned? Challenges?
Working with a business partner highlighted the importance of clear communication and shared goals. One challenge was coordinating rehab work within tight timelines to minimize holding costs, but we navigated it by hiring a reliable contractor. The project reaffirmed the value of leveraging partnerships and financing creatively.