Investment Property 5

[Jessica Wix]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $379,000
Cash invested: $75,800

Added to our long term investment portfolio.

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

Fit investment criteria of long term buy and hold, in an A or B rated school district, that appreciates over time.

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

On MLS and I actually bid 4K more than asking price. It was in multiple offers.

How did you finance this deal?

Conventional investment loan

How did you add value to the deal?

We painted the outside, cleaned up the backyard, changed the fireplace, changed kitchen countertops and backsplash, added accent wallks.

What was the outcome?

We bought for $379,000 3 years ago and I could sell it today if we wanted for $475,000. But the plan is to hang on to these for a while.

Lessons learned? Challenges?

I would do this again many times over if I had the chance