Live In Flip - The Necessary Evil
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $171,000
Cash invested: $39,000
We purchased this live-in flip with the intend of using the BRRR strategy. Area appreciation and rents have been extremely high so we wanted a nice place to live that will make us a little in the end.
What made you interested in investing in this type of deal?
The neighborhood was nice and we were sick of renting. The house needs only cosmetics and will rent close to 1% and appreciate 6-8% on average per year if markets trends continue.
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
20% down conventional as it is our primary residence and we do not want to pay PMI.