We finally bought an investment property. We have wanted a second property in a desirable locale for several years. We considered properties on the water, in the city and near the mountains. We looked at so many listings! I constantly scoured the real estate sites. We dodged bullets…made offers…got excited…just to be outbid…then would do it over again. Until one day we were at the right place at the right time!
What type of property did we buy?
We bought a house in the mountains. It’s only a few minutes from a popular ski resort. Being located near the base of a mountain, the drive up to the house is stunning with panoramic views of several neighboring mountains. From fall foliage to snow tipped trees it is beautiful year round.
Why did we buy this?
Our family’s use and enjoyment of this property is first and foremost. However, it has an additional apartment unit the previous owners rented. We fully intend to try our hand at renting as well.
How we “won” this property
The property was built in the 1980s. It’s a chalet style home. It was a hot real estate market when we bought. We offered $10,000 above listing, waived the inspection, and waived the financing contingency.
I saw the listing within an hour of it being posted which was on a Wednesday afternoon. I texted my real estate agent right away. We had an official offer in by noon Thursday. The offer was good for 24 hours until Friday at noon. The owners obviously liked our offer but asked if we would let it sit through the weekend which we would have been stupid to agree to. They countered with an additional $5k and we agreed!
Now, as lucky as we feel to have snagged a house in such an idyllic setting many people think we are nuts. Did I mention that the house interior is a total gut job? It was built in the 1980s and has remained in the 1980s. It hasn’t been touched since. No updates, no renovations and little cleaning had been done. But, we are able to see past all of that and have big plans for its revival. Stay tuned!