Updated almost 7 years ago on . Most recent reply
Buy and Hold in New Castle
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $57,000
3br/1bth row home located on a court in New Castle, DE. Off street parking, low maintenance, open floor plan on main level, central-air, fenced rear yard.
What made you interested in investing in this type of deal?
Easy to rent area, close proximity to a variety of activities (shopping, the highway, places of worship, entertainment), price was in my budget and only needed cosmetic fixes as the furnace and central AC were all fairly new.
How did you find this deal and how did you negotiate it?
I found the deal on Zillow. Not much negotiation as it was priced well and didn't need a lot of work.
How did you finance this deal?
The deal was financed by a HELoC on my primary residence and mortgaged the rest.
How did you add value to the deal?
New kitchen, new flooring throughout, w/d, dw, and new interior and exterior doors.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes ... my realtor is AWESOME!!! She has a fighters spirit and educated me along the way ... Ms. Melba Drewery with Berkshire Hathaway! My lender showed up to my closing to support me ... old school style LOL Mr. Curtis Easton of Trident Mortgage