Rental sold after holding for 5 years.

[James Honeycutt]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $175,000
Sale price: $367,500

Contributors:
Keith Varden

Bought using the VA loan. Lived there for one year. Rented it out for 4 years. Sold December 2021.

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

Colorado Springs was a rising market and I bought at a great time. Decided to sell since my property doubled in price and I can use that money for new investments.

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

I was just looking for a place to live in 2016 and I found this place. Was very low maintanence, a good price, and a fairly new build.

How did you finance this deal?

VA loan, no money down.

How did you add value to the deal?

I just held on for 5 years and the market did what the market does. Lucky for me, Colorado Springs, CO skyrocketed.

What was the outcome?

Doubled my money on a $0 money down home. Had a renter pay my mortgage for me for 5 years, then sold for a $175,000+ profit.

Lessons learned? Challenges?

Buying a newer property with low maintenance has it's advantages. No yard either which made things easy. Had an HOA that took care of everything on the outside fo the home to include the roof and sidings.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you are looking to sell your place in Colorado Springs, CO, Keith Varden will get you the most you can out of your sale.