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 pet-friendly 3-bedroom, 3-bathroom house overlooks Aunt Patty's Pond and is adjacent to Dennis Pines Golf Course. The first floor features a renovated kitchen with a large island, connecting a cozy sitting room, a living room with a 55" TV, a dining area, and a spacious back porch. A full bathroom is conveniently located off the mudroom beside the kitchen. Upstairs, the bright master bedroom has a king bed and en suite bath, There are two other two bedrooms—a queen room and a twin room.

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.