Updated over 5 years ago on . Most recent reply
"The Lake House" It doesn't have lake access but you can see it
Investment Info:
Single-family residence buy & hold investment in Guntersville.
Purchase price: $212,500
Cash invested: $2,000
3 bed, 3 bath beautiful house overlooking Guntersville Lake in AL. My husband's house he bought before we even met.
What made you interested in investing in this type of deal?
He needed a house and this one was weird enough so he bought it.
How did you find this deal and how did you negotiate it?
He worked with an agent
How did you finance this deal?
VA loan
How did you add value to the deal?
The house is in super fancy neighborhood and it just appreciated over the years.
What was the outcome?
This is our forever home! We will pay it off and keep it forever.
Lessons learned? Challenges?
We learned that almost no vehicle can go up that super steep driveway. It is a real pain to move in and out of this house. All of our other properties are on flat slab and we will never buy anything on a hill again.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My husband bought the house using an agent. Since then a few agents tried to sell the house but nobody could.