Castle Rock Real Estate Rockstar House

[Walter Daly]

Investment Info:

Single-family residence buy & hold investment in Castle Rock.

Purchase price: $1,098,000
Cash invested: $550,000

Hi, thanks for stopping by. Here is the scoop on our new build from luxury builder Toll Brothers. This was a builder spec home that sat on the market for about 2 months and had little interest. I flew in from out of state and was able to put together a strong offer in a very seller friendly market. We were under contract that weekend. It was the second home completed in the development and according to our CMA's has already grown by 6 figures in value in less than 9 months.

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

This was a very desirable neighborhood with no inventory and the price was a good value. This home will continue to appreciate as the development and city grow larger and more economically diverse.

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

This home had been sitting for almost 2 months and was still unfinished. I took the risk on how the finished product would turn out and now have the "cheapest" home in one of the best communities in our city of Castle Rock.

How did you finance this deal?

The deal moved quick and was financed by a conventional 30 year fixed with 1/2 purchase price in cash.

How did you add value to the deal?

We have added value by upgrading the landscape to match the luxurious interior and classic exterior of this house. Numerous built-ins throughout the home include an office and wine room. Lighting throughout the home has been upgraded to be more impactful and create more interest in the home.

What was the outcome?

My wife, 1 year old, and dog absolutely love living here. We look forward to growing into this house and the equity and wealth this home is helping us build.

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

M & T Bank was very quick and efficient and allowed us to close in about 3 weeks.