COS - Anaconda Dr, House Hacking turn Longterm Rental
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $237,000
Cash invested: $47,500
Split level 4/3, ASD-20, no HOA.
What made you interested in investing in this type of deal?
House hacking, downsizing from larger home.
How did you find this deal and how did you negotiate it?
Realtor friend.
How did you finance this deal?
Conventional mortgage.
How did you add value to the deal?
New roof, new flooring, renovated all three bathrooms, new paint interior and exterior, new SS appliance suite, new lighting, new front storm door, xeroscaping front yard, new water heater, new concrete backyard patio and wood deck, new garage door opener, and programable thermostat.
What was the outcome?
Became a rental property three years after purchase.
Lessons learned? Challenges?
Should not have invested in higher end LG appliances.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, power realtor Tammy Whalen.