Rented for 3 Years Before Fixing for a Big Profit

[Sean Kline]

Investment Info:

Single-family residence buy & hold investment in Alexandria.

Purchase price: $346,000
Sale price: $443,000

3 story end unit townhouse in a desirable neighborhood that had nice cash flow while waiting for the appreciation to hit.

How did you add value to the deal?

After renting it for 3 years I fixed it up with new granite countertops, tile in kitchen and baths, new hardwood, and new carpet in order to sell for top dollar.

What was the outcome?

Used a 1031 to roll the proceeds into the acquisition of 2 other properties.