Adding to My Real Estate Investment Portfolio!

[Calvin Hopkins]

Investment Info:

Single-family residence buy & hold investment in Fallsington.

Purchase price: $390,000
Cash invested: $185,000

Type: SingleFamily; Year built: 1956
Beds: 4 / Baths: 2
Parking: 6 Parking spaces
Lot: 9,750 sqft
Total Interior Livable Area: 1,620 sqft

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

Location and timing! My family and I have been working to buy up adjacent properties so that we can do a bigger development project in the near future.

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

It was next to my primary home, so I sat down with the owner and came up with what we both considered fair terms.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

I repainted everything and finished the basement. I also cleared out the huge garages on the property so that I could rent them out separately.

What was the outcome?

Increased rental income (30%)

Lessons learned? Challenges?

Having trust at the foundation of your relationship when doing a real estate transaction it extremely important. It makes people feel good on both the side of the buyer and seller and it makes the whole process go a lot smoother. Not to mention, more fun!

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

We worked with a lawyer and one agent to finalize the deal.