Buy and hold in Peoria, AZ

[Scott MacComb]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $210,000
Cash invested: $57,000

Purchased to hold for rental income. Home has appreciated considerably.

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

It was a newer subdivision and the builder had pulled out due to the Great Financial Recession of 2008. There was still no builder when we purchased and only three of the community streets had been completed. We figured in time the subdivision would be built up again.

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

MLS listed well below market. Offered above asking price, but still slightly under what we figured market to be.

How did you finance this deal?

Traditional 30-yr mortgage with 20% down.

How did you add value to the deal?

Full renovation in 2023 and re-leased at higher rate.