Long Term Hold 3/3 Golf Course Property in Reno

[Marian Huish]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $750,000
Cash invested: $750,000

Purchased this 3/3 2,759 sq. ft. golf course property in Reno located in 'tax-free' Nevada which is one of the hottest locations to invest due to increased housing demand as a result of tax incentives being offered to businesses bringing jobs to Northern Nevada. Companies such as Google, Amazon, Tesla and other high-tech companies are occupying over 100K acres in what is known as "Tahoe-Reno Industrial Center" or TRIC. For more information, check out https://tahoereno.com/. As a licensed NV Realtor, I'm also happy to help you find an investment property.

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

Long-term passive income, appreciation with potential for conversion to owner-occupancy.

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

As a Realtor, found on the open market and negotiated it during a declining market.

How did you add value to the deal?

1031 Exchange funds.

What was the outcome?

Secured long-term tenants immediately upon closing. Positive cash flow.

Lessons learned? Challenges?

Great investment. None to date.

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

Myself and my partner/wife who's also licensed in Nevada.