Long Term Buy and Hold

[Joe Homs]

Investment Info:

Condo buy & hold investment in La Habra.

Purchase price: $125,000
Cash invested: $45,000
Sale price: $356,000

This move-in ready end unit offers two spacious bedrooms, two bathrooms, and an enclosed patio. Laminate type wood flooring welcomes you upon entry extending throughout the entire unit. A functional sized kitchen is paired with modern appliances and a separate dining area across. Updates include recessed lighting, quartz counters, new vanities, new fixtures, and a fresh coat of paint throughout. This unit comes with a 2 car detached garage.

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

Down market

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

HUD auction

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Made repairs prior to sale only.

What was the outcome?

Nice profit just before Covid downturn.

Lessons learned? Challenges?

Is it time to sell in California? I think so.

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

Andy Homs