Hi Everyone,I purchased a new-build townhome by Meritage Homes in 2021, during the initial phase of the community development.

Purchase price: $340,000 Cash invested: $100,000 This is a Mother/Daughter with a water view - We rent it for over $3000 a month What made you interested in investing in this type of deal?

We have the opportunity to purchase a beautiful, well established STR in an up and coming market.

It was purchased by a flipper on 12/13/2023, just 6 months ago, for 395K.

And due to the increase in the cost of purchasing food at the grocery store which has been pushed up in price, and also the must have purchase of gasoline to get to your wage slave W2 job which has also gone up so much since they stopped handing out money to people.

I do understand wanting the highest rent to purchase price ratio, and I would assess markets based on that, if that is the route you are going.  

It might hinder your ability to purchase more homes down the road.

Why do you think purchase contracts are so long and have such small print?

I am close to the owner so I can discuss options.These are details and some rough numbers: - Location: Vienna , VA - No mortgage on house (free and clear)- Purchased year: Around 1980- Purchased price: around $50,000- Type: 3 bed - 2 1/2 bath single family- Market price: $920K (not appraised yet but numbers from Zillow)- Market rent : $3,400/mo (from BP Rent estimator)- Insurance $2,000 /yr- Taxes $9,300 /yr- Management $3,260/yr (I do not want to manage )- Repairs: TBDThe numbers do not work with conventional financing (20% down, 7% interest, 30 yr) so I want to think of creative financing ways.

And Im looking to potential purchase a few and connect with some builders and developers to see what they are buying lots for in this area.