Red Hot Southern Maryland Market!

[Donzell Pinkney]

Investment Info:

Single-family residence buy & hold investment in Lusby.

Purchase price: $165,000
Cash invested: $20,000
Sale price: $320,000

This investment property was a home that I purchased and lived in it for several years until the market value appreciated to max levels.

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

The property was a foreclosure that was in solid condition, it needed little work, but I did the upgrades myself.

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

The deal was a property that I notice while driving by to look at another property. Little negotiations was needed, it was already at a good price point, the house originally sold for $272,000 in 2014.

How did you add value to the deal?

The deal was financed through my bank as owner occupied, conventional, 97% LTV, 3.45% interest rate, 30 yr. Which allowed me to keep most of my cash and gradually do improvements. I saved tons of money on improvements because I did the labor work myself and I purchased discount materials form Lowe's and Home Depot (some items were discounted up to to 90% off.)

What was the outcome?

Win, Win, Win!