1031 Exchange: Sold property (NJ)

[Gargi Keeling]

Investment Info:

Single-family residence buy & hold investment in Ewing Township.

Purchase price: $176,000
Cash invested: $44,000
Sale price: $280,000

3 BR/2.5 BA townhouse w/ garage & basement

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

Low entry point, nice safe neighborhood, working professionals as renters

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

Our agent, Shani Dixon, with Fox Roach/Berkshire Hathaway

How did you finance this deal?

Downpayment / loan

How did you add value to the deal?

We remodeled this pretty extensively - new kitchen cabinetry, bathroom vanities, lighting.

What was the outcome?

1st tenant didn't last long, 2nd tenant was good - reported issues, kept the place tidy

Lessons learned? Challenges?

We probably could have used cheaper materials but I think it added value to the home. And we lucked out w/ an affordable contractor.

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

Shani Dixon