Single family investment property, buy and hold

[Martha Chaudhry]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $515,000
Cash invested: $180,000

Buy and hold condo unit with 2 car garage, penthouse unit with 3 balconies, high ceiling and fireplace 1 block to Bellevue Square

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

A foothold in the market while we were living overseas. A residence for my mother to use.

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

I look for properties that have very unusual, valuable features, such as amenities, views, locations

How did you finance this deal?

Conventional

How did you add value to the deal?

Extremely selective site selection. We will renovate before selling.

What was the outcome?

Still holding

Lessons learned? Challenges?

This time we will structure a 1031 exchange. I want to leverage or trade this property up for multi-family, multi-unit