LTR appreciation play In Orange Park
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $220,000
Cash invested: $10,000
Long term rental. Previous personal property so good rate and low down. Leased annually for last 3 years with good tenants. Very low cash flow but positive. Home has appreciated to approx $400k today
What made you interested in investing in this type of deal?
Appreciation
How did you find this deal and how did you negotiate it?
Bought as main residence and kept as rental when moving to larger home
How did you finance this deal?
FHA and then refi to conventional when rates were down
How did you add value to the deal?
Basic home improvements.
What was the outcome?
$200k equity over 6 years. 3 as a resident, 3 as landlord
Lessons learned? Challenges?
Too many to list. Great experience