Brookwood Residence to hold for long term

[Fernie Acevedo]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $650,000
Cash invested: $80,000

2nd home purchase. For now it's a live in residence but see what comes of it. Will keep this as a hold and save.

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

Looking for our next house and this came up in the market and at the time it was on the market for over 90 days.

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

My wife saw it on MLS.

How did you finance this deal?

Bank deal with 20% down.

How did you add value to the deal?

Within the first year I've remodeled one bathroom, entire floors, remodeled the kitchen, painted the interior and exterior.

What was the outcome?

Looks great and since purchase, the price has gone up about $150k.

Lessons learned? Challenges?

Electrical has been slowly updated but that's still in process.
Plumbing has been an issue and we've worked around it a few times. I need to cut down a tree. This house is on slab and next would prefer raised flooring for ease of access.

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

Worked with my wife, Marysol Esqueda from EXP Realty.