Single-family residence buy & hold investment in Chula Vista, CA

[Darren Tunstall]

Investment Info:

Single-family residence buy & hold investment in Chula Vista.

Purchase price: $280,000
Cash invested: $9,800
Sale price: $415,000

Purchased as a primary residence and let the equity grow. Sold after 12 years.

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

This was our first home in San Diego. It was an accidental investment that turned out to be very profitable as a buy and hold property.

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

Track home. Went to sales office and purchased.

How did you finance this deal?

FHA loan.

How did you add value to the deal?

Allowed time to work for me.

What was the outcome?

After a while, my wife and I realized that it was becoming more valuable over time. We decided to hang on to it while we located land so that we can build our next home, live in it, then resell.

Lessons learned? Challenges?

Owned the home between 2001 and 2013. Learned to be patient, especially during the time of 2007-2009. We knew we wanted to sell it, but after much input by others it was wise to keep. We learned that we bought and the right time and looked for signs to sell at the right time.

[Andy Eakes]

@Darren Tunstall Congrats! Sounds like you learned some valuable lessons throughout the whole process and made some great money! This is a great example of what patience and toughness (through 2007-2009) can bring you. I tend to see a lot of people who are trying to get filthy rich asap but to me, the buy and hold, long term strategy just makes more sense, especially in San Diego. 

I am also very familiar with the Chula Vista area as well and all of the appreciation it has seen over the years. I'd love to hear what your next investment will be. 

Until then, good luck!