This new-construction home offers an open-concept floor plan with 9' ceilings on first floor. The stylish kitchen includes quartz counters, shaker-style cabinets, and stainless steel energy-efficient appliances. The primary bedroom features a walk-in closet. It includes a tankless water heater, whole-house fan This gated community includes a dedicated dog park, a recreational area with playground equipment, and a wonderful covered picnic area with serene mountain vistas.

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

Investing in a brand new build seemed like a good idea, and I think it really is a better deal. The developer insures almost everything for 5, 10, and 15 years (Appliances, roof, plumbing.....)
Since it all brand new, the chances of something breaking, needing repairs, fixes....are slim. Plus, the potential tenant will appreciate and pay more for a new home rather than an older home.

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

This was a new build by a developer. When I first visited the community, they were halfway built townhomes. Prices were sky high. When I revisited 6 months later, I was able to knock off $35,000 from the price + they paid for closing costs. They were desperate to sell the property since there was only 3 homes left.

How did you finance this deal?

I used a conventional loan, using my own money, paying 35% down.

How did you add value to the deal?

I upgraded the flooring before the developer put the cheaper standard laminate. The laundry room was also supposed to have LVP, but I upgraded to tile.

What was the outcome?

Place looks beautiful, upgrade, and best of all brand new. Was able to rent out within a month after completing the upgrades.

Lessons learned? Challenges?

I installed the shades myself. This townhouse has 15 windows!!! Cost for a company to come out to install range between $4000 - $6000.
I was ablet to use a better product, which Home Depot was able to cut to size for me at no extra cost, and installed them all myself (easily and only took about 2 hours), and saves thousands of dollars. Total cost $600.