Updated over 1 year ago on . Most recent reply
First Single Family Investment!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $295,000
Cash invested: $60,000
After living in five different states in US. We decided to settle down in a location that is family friendly and still had a very peaceful and suburban charm to it. Our primary home where our children were born - every investment has a story and a connection to larger part of life!
What made you interested in investing in this type of deal?
Price and the timing was primordial to this investment, having to settle down and call a place home
How did you find this deal and how did you negotiate it?
Online search engines and an amazing real estate agent, who is still a good friend; she understood our needs and actively worked with us to find a family friendly neighborhood closer to work.
How did you finance this deal?
20% down and rest conventional financing at close to 2% interest rate
How did you add value to the deal?
Regular maintenance, upkeep of lawn, exterior of the building as per HoA covenants.
What was the outcome?
Property values soared high in this town since past 7 years. Currently, valued at more than double the original price, its a keeper!
Lessons learned? Challenges?
Location is key to any real estate investment. We saw this area is a suburb to a major city has good connectivity to a major company hub, low crime and a serene place.