98 Greenland Circle, South Dennis, MA

[Patrick Whyte]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $584,000
Cash invested: $116,000

This 3 bedroom 3 bathroom pet friendly house overlooking Aunt Patty's Pond is also adjacent to Dennis Pines Golf Course! The first floor of this private home offers a bright renovated kitchen with a large island centrally located between a cozy sitting room, the living room with 55" TV, a dining area, and the spacious back porch. A full bathroom is conveniently located just off the mud room beside the kitchen. The second floor holds a bright bedroom with a king bed and en suite bath, a restful room with a queen, and a comfortable bedroom with two twin beds as well as a full bathroom. The walk out lower level offers an additional room with two twin beds, a game room, and another TV 50" area with a pull out sleeper sofa. Unwind in the outdoor shower. Relax in the air conditioning after a day at the beach. Prepare a feast with loved ones in the well stocked kitchen but most importantly, make lasting memories in this lovely home.

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

This is more of a 2nd home with a buy and hold strategy.

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

We worked with a local realtor, and fell in love with this place.

How did you finance this deal?

Coventional, 30 year, 20% down, 3% interest (those were the days!).

How did you add value to the deal?

Added a primary bath to create a true master suite. Extended the kitchen island and added a wine fridge. Added outdoor shower (a must on the Cape.)

What was the outcome?

We "lose" money on a cashflow basis, but completely comfortable with that as this is more of a 2nd home that renters help us pay for. Plus, gave us the real estate, STR bug. Lastly, appreciation has been roughly 58%. Fully understand this was due to "Covid Bump", and not typical results.

Lessons learned? Challenges?

It's all about guest experience. Jump on issues immediately. It goes along way with your guests.