Cashing out a long term buy and hold investment

[Emily And Eric Erickson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $168,000
Cash invested: $28,000
Sale price: $245,000

Converted primary residence into buy-and hold in 2020 and sold in 2024 when tenant left and partners needed to go their separate ways

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

Helped solve a need for the owners and gave them an opportunity to be real estate investors without having to get their hands dirty

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

Partners owned as primary residence and then moved out to a new home and wasn't sure what to do with it

How did you finance this deal?

Partners had it financed

How did you add value to the deal?

Made the repairs needed to get it rent ready, and then found tenants and acted as point of contact for them

What was the outcome?

Successful 4 year rental with annual rent increases and a great asset that both appreciated and depreciated at the same time. Amazing!

Lessons learned? Challenges?

Single bath houses are both harder to rent and sell then 2 bath houses

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

Listing agent was amazing when we were ready to liquidate. Emily Erickson at 520-834-7543