Bought, rented, and sold Single Family Home.
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.
https://www.zillow.com/homedetails/8112-Ridgely-Loop-Severn-MD-21144/121171579_zpid/?mmlb=g,0
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.
