Our home in Colorado

[Roanld Pretzeus]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $510,000

beautiful home 3600 Sqft in falcon Colorado, purchased for 510,000, appraised for 530,000.

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

the price per SQFT was sitting at $141 while other homes in the area sat in the $200 dollar range.

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

Found this deal through my realtors automated search that I get emailed to me

How did you finance this deal?

VA loan

How did you add value to the deal?

We came in the same day that the seller dropped price, he dropped it under market value so we came in at his ask and waited patiently while he reviewed offers from other buyers, we made the offer assuming other buyers would be trying to ask him to go lower and that must have been what happened because our offer was accepted next day.

What was the outcome?

We went under contract and moved forward in the buying process.

Lessons learned? Challenges?

Be patient, be cool and stay diligent. We got an amazing deal on a beautiful 3600 SQFT home, we knew the market and jumped on this one at ask which ultimately got us the deal, the market was shifting so much in mid/late 2022 the seller knew it wasnt his market anymore and we knew he was past his limit. He started his ask at over 620,000 and over the course of 115 days of being on market he found himself under market value and ready to take an offer at his new price drop to 510,000.

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

We worked with an amazing agent, Suzanne Ramos, with Berkshire Hathaway.