The Glasshouse Condo. Buy & Hold Strategy.

[Jimmy Stretz]

Investment Info:

Condo buy & hold investment.

Purchase price: $170,218
Cash invested: $34,043

Purchased as my primary residence that I've since turned into a rental property as a part of my buy and hold strategy.

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

Ideal location that's sandwiched between LoHi & Union Station Downtown Denver.

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

I knew East/West Management sales team. There was a long line to buy.Negotiations happened face to face in the sales office before the building was ever built.

How did you finance this deal?

Conventional 80/20 loan.

How did you add value to the deal?

Negotiated upgraded finishes.

What was the outcome?

Still using it as an investment property.

Lessons learned? Challenges?

It was tough to hang on to during the recession of 2008. I was able to do it and this investment helped pay for my International MBA, built incredible relationships within the community, and was our 1st family home until we grew out of it. It's been a fantastic investment property as well and I still take advantage of the pool, the parties, and the gym :)

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

Yes! I'm a licensed real estate agent in Colorado and I'm here to help others build wealth through real estate.