New Build, Single Family Home in Class D Neighborhood

[Casey Heverling]

Investment Info:

Single-family residence buy & hold investment in San Antonio

Purchase price: $204,000
Cash invested: $5,000

3 Bedroom, 2 Bath Single Family House. 2017 Build.

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

Getting started, gaining experience, there was opportunity for instant equity.

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

Standard Zillow search, was on market for 120+ days and owner had already moved out of state.

How did you finance this deal?

Conventional 30-year loan, 20% down.

How did you add value to the deal?

Purchase price created instant equity.

What was the outcome?

Asking was $225,000, purchased for $204,000. Property was worth $250,000 day 1.

Lessons learned? Challenges?

Should have understood the neighborhood more first. It is an asset type that doesn’t align with my goals as well as it should. Creates a feeling of burden rather than passion or opportunity.