Single-family residence buy & hold investment in Charlotte.
Purchase price: $144,000
Cash invested: $33,000
Bought off an auction site, it was an REO foreclosure, took 5 months to get occupants out, and then proceeded with renovations in March. Major renovations took place between March and May, right now I am living in the house and plan on renting it out to student renters in August.
Good for you. You have patience. Where will you stand once all is said and done?
Great job and congratulations! Let us know how this deal measures up later on.
5 months to get occupants out? I hope they we're paying rent or you may just be too nice for this business Roger.
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