Stafford VA property

[Ika Sargeant]

Investment Info:

Single-family residence buy & hold investment in Stafford.

Sale price: $163,000

3 bedroom, 2.5 baths and around 2400sqft townhome. Property had lots of repairs needed and sold as is.

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

Demand for rentals in that area.

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

Bright MLS. Seller who had been on the property and had gone through divorce.

How did you finance this deal?

Local bank.

How did you add value to the deal?

Kitchen and basement remodel.

What was the outcome?

Rented immediately.

Lessons learned? Challenges?

Rehab costs were higher than estimated.

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

I am an agent