Updated almost 4 years ago on .
St. George Townhouse
Investment Info:
Townhouse buy & hold investment.
Purchase price: $172,000
Cash invested: $10,000
Sale price: $185,000
We bought this property in the highs of the real estate market in 2007. It took a while for the value to come back up. We lived in it for about 6 years, then rented it out. We sold it after a renter destroyed it in 2018.
What made you interested in investing in this type of deal?
I got my first job out of college and the market was high and needed a place to live. I got my parents to invest in a townhouse to live in and then planned on renting it out after we found a bigger home.
How did you find this deal and how did you negotiate it?
We did this deal through a local realtor that we knew.
How did you finance this deal?
SBA Loan and savings.
What was the outcome?
The market crashed and we had to wait out quite a while for the market to come back up.
Lessons learned? Challenges?
There are always homes. Be patient. Don't jump at the first thing.
