Updated over 5 years ago on . Most recent reply
Second Investment Property
Investment Info:
Townhouse buy & hold investment in Chino Hills.
Purchase price: $633,000
Cash invested: $75,000
Primary residence that could not be sold for less than a $60,000 loss during Covid.
What made you interested in investing in this type of deal?
To avoid a loss, leverage tax benefits, and secure a long term investment.
How did you find this deal and how did you negotiate it?
Primary residence
How did you finance this deal?
Cash
How did you add value to the deal?
Turn key, $75,000 in upgrades at time of purchase
What was the outcome?
We will break even annually while building equity. This was infinitely better than taking a $60,000 loss but it has slowed our investment progress in Cincinnati
Lessons learned? Challenges?
Vetting property management companies. Knowing our BEAUTIFUL property is going to take a bit of a beating lol
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Clockwork Property Management, Chino Hills California
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