Long-term Buy and Hold

[Virgil Renfroe]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $130,000
Cash invested: $46,000
Sale price: $310,000

Great long-term hold. Refinished floors and did minimal rehab to kitchen. Added a fence. Rented for +/-$500-$1000 cash flow for ten years. Reaped annual tax benefits.

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

Monitored local listings and worked with agent to negotiate.

How did you finance this deal?

Standard 30-yr fixed.

How did you add value to the deal?

Refinished floors, added backyard fence, updated kitchen slightly.

What was the outcome?

At the time of sale, netted over $200k. Through the years, made $6k, $10k, then $15k annually. All annual gains written off through depreciation.