This is the first piece of real estate that I purchased
Investment Info:
Single-family residence buy & hold investment in Douglasville.
Purchase price: $80,000
Cash invested: $6,000
Sale price: $140,000
I bout this property when the market was low but rising and I built a second kitchen and bathroom in the basement and rented it out which covered my mortgage and half of the utilities, so I lived in the home almost for free for 4 1/2 years and then sold it and made 60k.
What made you interested in investing in this type of deal?
Market was low and obviously a good time to buy.
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
conventional mortgage
How did you add value to the deal?
added a second kitchen and bathroom in basement. I was able to find very inexpensive cabinents and sink and what not on job sites.
What was the outcome?
a 60k dollar check at closing
