Investment Info:
Single-family residence buy & hold investment.
Purchase price: $420,000
Cash invested: $250,000
ABOUT OUR HOME:
Our home sits on a quiet cul-de-sac in Southlake - a smaller, upscale suburb outside of Dallas. It was built in 1996 and has 4 bedrooms, 3.5 bathrooms, and a 3-car attached garage. It sits on an almost half an acre lot with lots of trees. It is a 2-story house, where the master's bedroom is located on the first floor, and 3 bedrooms on the second floor. The home has a formal living room, 2 family rooms, and an office.
FURNISHED:
The residence comes complete with a master bedroom featuring a king-sized bed, two bedrooms each furnished with queen-sized beds, and a fourth room equipped with two twin-sized beds. All living rooms are adorned with sofa sets and smart televisions. The kitchen boasts a double oven, glass cooktop, and a dishwasher.
Cooking essentials, utensils, and small appliances are provided. Additionally, a washer and dryer are provided for your convenience.
ABOUT SOUTHLAKE:
Southlake is known for its exemplary schools, luxurious homes, and well-maintained neighborhoods. It is also home to Southlake Dragons where we take pride in 8 Football State Championships.
Several major hospitals are nearby: Baylor Scott & White Medical Center, Texas Health Harris Methodist, Medical City Alliance, and Medical City North Hills. Our home is accessible to major freeways, and shopping, and about 15 minutes to the DFW International Airport.
Major employers nearby: Sabre, Charles Schwab, Deloitte University, Fidelity Investments, Travelocity, Amazon, and Wells Fargo.
For the active lifestyle, within a couple of miles, is a tennis center, pickleball complex, baseball fields, a community swimming pool, walking trails, and a community fitness center.
CRIME RATES:
It is considered one of the safer cities in the nation where crime rates are well below Texas and National averages.
LEASE DURATION:
The residence is offered for short-term leasing with a minimum rental period of 30 days.
MISCELLANEOUS:
We offer initial sets of bed linens, towels, and essential bath items. Additionally, we cover the costs of internet service, as well as landscape and yard maintenance. Guests are responsible for their own utilities and housekeeping expenses.
Renter pays for all utilities including water, electric and gas. Landlord pays for the yard maintenance. All renters 18 years and older will have to apply. We use application forms, lease forms and addenda from promulgated forms by the Texas Real Estate Commission.
What made you interested in investing in this type of deal?
The location was important for my consideration. Southlake has one of the most popular school districts in Texas. Also, the school has one of the most successful sports programs having won 8 state championships in football. The homes in Southlake, tend increase in value making is a great location for investments.
How did you find this deal and how did you negotiate it?
I did not have my real estate license back when I bought this house in 2007. I used a local real estate to locate this deal. The sellers were motivated to sell and I was able to negotiate a price reduction.
