Updated about 5 years ago on . Most recent reply
Buy and hold in Kingwood Tx
Investment Info:
Single-family residence buy & hold investment in Kingwood.
Purchase price: $170,000
Cash invested: $47,500
Mid 70's home Mostly renovated except for flooring on the upstairs level.
What made you interested in investing in this type of deal?
It was very close to my primary residence and an off market deal. The numbers worked out well and could not pass this one up.
How did you find this deal and how did you negotiate it?
Telling everyone that I come in contact with that I invest in real estate and if they have any properties that they are thinking of getting rid of.
How did you finance this deal?
Traditional 25% down financing
How did you add value to the deal?
Upgraded counter tops to solid surfaces and put in more modern shower glass. I also changed out the outdated fuse box with a new and much safer one
What was the outcome?
The property is performing well with only a few minor hiccups here and there.
Lessons learned? Challenges?
Try to look for loans that require less down payment
