3 bed 2 bath single family home buy and hold in Cheney WA (college town)

[Deepak Malhotra]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,000 in Nov. 2005
Sale price: $175,000 in July 2007

1872 square foot single family home with no garage. Nice floorplan and quiet cul de sac. Rented for about $725 per month way back then.

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

It was close to home and near the university. I also realized that I don't have to pay any utilities at all with single family homes. If utility prices go up, my cash flow doesn't go down.

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

MLS. Standard offer process.

How did you finance this deal?

Conventional non-owner occupied loan. 20% down.

What was the outcome?

Sold at a profit in a bidding war.

Lessons learned? Challenges?

Years when there are bidding wars are good years to sell.  But should have held it longer.  Hindsight is 20/20.

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

Cheney Realty, Inc. https://buygeg.com/