Buy and Hold--one lesson i will grow from!

[Anny Garcia]

Investment Info:

Condo buy & hold investment in Oxon Hill.

Purchase price: $672,000
Cash invested: $10,000

4 lvl townhome in National Harbor-2500 sqft. 4 Levels of HARDWOOD FLOORS. ALL bathrooms upgraded granite & tile. Gourmet kitchen w/granite and SS appliances, Built ins, Rooftop terrace w/double sided fireplace to enjoy Fabulous water views of the Potomac River ,Wet bar wine fridge and dishwasher on Rooftop level with over sized bedroom and full bath. Master bath upgraded, tiles extend up the wall surrounding seamless glass shower and a Spa Bath tub. Customized closets.

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

it was a primary residence with the intention to rent and hold

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

at that time thru an agent

How did you finance this deal?

VA loan

How did you add value to the deal?

Added modern features/paint

What was the outcome?

Sold it and broke even-we were competing with the builder who was providing deep discounts on newer models.

Lessons learned? Challenges?

learned a good lesson on this one: In the future don't make a permanent decision based on temporary situation.

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

Yes I worked with agents--and no, I do not have their names.