Single-family residence other investment in Mt Holly.
Purchase price: $42,000
Cash invested: $88,000
Sale price: $139,000
Bought for cash to flip. Didn't sell at $115,000 so I held it for a rental. Netted $6,000 annual cash flow until sale.
How did you finance this deal?
Dam sounds like a good deal to me. That's how we obtained our first rental as well, a failed flip. Still have it to this day, I dont think I'll ever want to sell it.
It's good to see you were able to turn a not so good situation into a better one.
Always have to have an exit strategy when one door closes. Did you consider running the number as both a rental & flip before purchasing? To see what would have benefited the most.
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