Single Family home in Ashburn VA
Investment Info:
Single-family residence buy & hold investment in Ashburn.
Purchase price: $500,000
Cash invested: $40,000
Sale price: $585,000
Purchased SFH in a great neighborhood and enjoyed it for years. Completed renovations for $40,000.00 before putting home up for sale. Under contract 3 days later. Sold for full asking price.
What made you interested in investing in this type of deal?
Long term growth of equity, quality market that was growing.
How did you find this deal and how did you negotiate it?
My wife found this deal in the MLS while we were working with a realtor.
How did you finance this deal?
VA Loan
How did you add value to the deal?
Completed renovations for $40,000.00
What was the outcome?
Sold for full asking price. $585,000.00
Lessons learned? Challenges?
Contractors frequently under bid their prices. Get everything in detail, in writing.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Jay Rowzie is my Real Estate agent in VA. He is amazing.