Recovery Home in Northglenn, CO

[Kayla Givens]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $585,000

This is likely the final single-family home my fiance and I will purchase for our portfolio. This home is perfect for our sober living model and we are walking into it with an extra $35k in equity! This property will cash flow like crazy for us - after PITI we will be looking at $5k/mo before expenses.

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

This home is perfect for our sober living model and will produce very nice cash flow!

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

We found this property on the MLS and as the buyers agent, I was able to negotiate almost $12k in concession, and several items from the inspection resolution including a new radon system.

How did you finance this deal?

My fiance took on the loan and our partners brough the down payment.

How did you add value to the deal?

I added value by finding the property and negotiating with the seller!

What was the outcome?

We walked into the deal with an additional $35k in equity and will see nearly $5k in cash flow per month!

Lessons learned? Challenges?

We had some issues with lending - had to switch lenders and loan products throughout the process and it came down to the 13th hour to get the clear to close. Luckily we were able to get everything but it was very stressful!

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

Me :) I also worked with Pablo Hernandez with HouseMaster for our inspection - he is great and extremely thorough!