Foreclosed townhome to start my RE investment career

2 Replies

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $77,175
Cash invested: $55,000

Foreclosure in need of full renovation. Before and after pics attached.

ARV: $189,000

What made you interested in investing in this type of deal?

Home in the area where I grew up.

How did you find this deal and how did you negotiate it?

Online auction.

How did you finance this deal?

203K / Homestyle

How did you add value to the deal?

Full renovation

What was the outcome?

Fantastic townhome that has been rented out going on 3yrs.

Lessons learned? Challenges?

It's very easy to over-improve if you don't really stick to a solid budget.

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