Investment Info:
Single-family residence buy & hold investment in Ridgecrest.
Purchase price: $172,000
Cash invested: $10,000
Sale price: $288,000
Was originally our home and then moved and rented this property out. First renters were horrible and decided to go with a Property Manager after that which was a great choice and made the property autonomous after that. Decided to sell in order to see profits so I can reinvest in other properties.
What made you interested in investing in this type of deal?
This was our first purchase and home.
How did you find this deal and how did you negotiate it?
There were a lot of available new homes in the area at great prices.
How did you finance this deal?
VA Loan
How did you add value to the deal?
Created outdoor living spaces.
What was the outcome?
Cleared a decent profit of $103,000.
Lessons learned? Challenges?
Good property managers make your life 1000 times easier and if remote are a must.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I worked with Keller Williams Michelle Harris. She was great in this sell and has been great in other purchases and really looks out for your interest.
