Updated over 6 years ago on . Most recent reply
Primary Residence Purchase!
Investment Info:
Other buy & hold investment.
Purchase price: $425,000
Cash invested: $21,250
Purchased as Primary Residence. Renting out for the first 6 months, then will move into it next summer. Taking the first month to do bathroom renovations to add value.
What made you interested in investing in this type of deal?
Low interest rates, cash to deploy, good location, will potentially live in this unit in 6-12 months
How did you find this deal and how did you negotiate it?
On Market
How did you finance this deal?
Conventional 5% down loan
How did you add value to the deal?
Bathroom renovation to increase value
What was the outcome?
Purchase price $410,000, comps support $460,000.
Lessons learned? Challenges?
Getting a primary residence loan is no fun. Have all of your ducks in a row beforehand.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I brokered this deal myself, I am a Washington DC realtor.
- Cassidy Burns
- [email protected]
- 540-960-1507