Catastrophic water leak leads to a profitable cash flowing asset

Catastrophic water leak leads to a profitable cash flowing asset

Rental Property Investor · Greensboro, NC · Member since 2019 · 1 post · 0 votes

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $269,500
Cash invested: $35,000

3Bed+3Bath Townhome in Denver, CO; best and worst investment of my life.

What made you interested in investing in this type of deal?

A place to hold my furniture prior to moving overseas.

How did you find this deal and how did you negotiate it?

MLS, REA

How did you finance this deal?

Savings

How did you add value to the deal?

I didn't add value until I had to practically rebuild it due to a catastrophic flood.

What was the outcome?

It's currently rented out, refinanced, candidate for future 1031 exchange.

Lessons learned? Challenges?

Never leave a property vacant.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not really.

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