Buy & Hold SFH in Mesa, Arizona

[Jared Smith]

Investment Info:

Single-family residence buy & hold investment in Mesa.

Purchase price: $200,000
Cash invested: $45,000

Fully updated turn key charming Arizona home! Located in the established Crismon Creek Village. The large kitchen features GRANITE counter tops, 42" upper maple cabinets, STAINLESS STEEL appliances and an island that is sure to please. With a gorgeous resort style pool area, playground, basketball court and several walking paths throughout the community. If that's not enough the beautiful mature landscape and all the grassy common areas will for sure take your breath away.

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

Fantastic location that offers everything - residential and commercial growth, development, school district, neighborhood, community, cash flow, appreciation etc.

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

I moved to AZ, got my real estate license and found this deal while I was running in the neighborhood! Then I looked this deal up in the MLS and used my business acumen, "Getting to Yes" and "Never Split the Difference" skills to negotiate this deal! (I also negotiated the seller to pay for a 1-year warranty which proved beneficial because I had my AC blower & motor go out which was a $1,400 repair).

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

DIY sweat equity!

What was the outcome?

I actually bought this home to live in and then I bought the house down the street 2 months later! I have successfully rented this home out. I also renewed the lease with my current tenant with a clause stating that if I represent them in buying a home, I will cancel their lease for free***

Lessons learned? Challenges?

Make sure you trust but verify the other agent's work and physically be there for the final walk through.

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

Yes - ME and happy to help anyone in AZ!