Bought, rented, and sold Single Family Home.

[Claudio Sanchez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $535,000
Cash invested: $30,000
Sale price: $665,000

This large, 5-year-old colonial features 6 bedrooms, 4 full bathrooms and a 2-car garage. Located in a new community close to all of the area's major commuting routes, the home boasts hardwood flooring on the main level and a large kitchen that opens into a family room with a gas fireplace. The upper level has 4 bedrooms, an open loft area and a laundry room. The luxurious master bedroom suite offers a large bathroom and walk-in closet. The bright and airy lower level provides an additional bedroom/office, a full bathroom and walk-out access to the backyard. The maintenance-free, lighted deck and large fenced backyard offer plenty of room for entertaining. Technology? This property is Smart Home Heaven. The entire house is hard-wired with cat6, and there's HDMI, power and Ethernet in each bedroom. There's also a home theater/overhead projector that's pre-wired. The home rests on a corner lot with a large common area on the side. There is little traffic and plenty of safe room to play.

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

Bought the house as new construction with a primary residence loan, and added a few improvements (cosmetic and convenience), then moved out, rented it for 2 years and then sold it.

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

Walked into the builder's sales office. Did a no-agent deal to get a discount on the sales price.

How did you finance this deal?

Primary residence mortgage

How did you add value to the deal?

Added convenient technology (smart home features + security camera system + wired networking)

Lessons learned? Challenges?

I should have held on to the property.