New Construction SFR in Seattle's View Ridge neighborhood

[Adrian Chu]

Investment Info:

Single-family residence other investment.

Sale price: $2,980,000

New Construction SFR in Seattle

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

I love Seattle, especially NE Seattle.

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

This was sourced off market

How did you finance this deal?

Bank loan

How did you add value to the deal?

We tore down the existing house and built a new one

What was the outcome?

We sold the home. And we are looking for more projects!

Lessons learned? Challenges?

Timing is important. Plan for holding costs and unexpected rate hikes. The construction loan rate went from 5% to almost 10% towards the end.

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

Specialty Real Estate Group