So I got my childhood home for $2500!!!
Investment Info:
Single-family residence buy & hold investment in Fort Wayne.
Purchase price: $2,500
Cash invested: $2,500
This is my childhood home with I acquired through the statutory right of redemption for right around $2,500!
My goal is to turn this property into a rental or potentially a AirBnb as it is downtown and has potential for a nice short term unit! (Open to suggestions!)
My current focus is to continue to build my Real Estate database for both property management and retail sales. I am also very heavily interested in cash-flowing multi family so if you have a deal send it my way!
What made you interested in investing in this type of deal?
100% Equity!!!
How did you find this deal and how did you negotiate it?
My parents let it go to tax sale and didn't want it anymore so I redeemed it and had them QCD it to me!
How did you finance this deal?
Ummm... lol
How did you add value to the deal?
Currently pricing out remodel on inside for cosmetic fixes to make into a rental!
What was the outcome?
Pending!
Lessons learned? Challenges?
Don't live in your childhood home lol it's weird and not very inspiring.. at least for me.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My team Open Door Rentals & Real Estate. We property manage 400+ units in the surrounding Ft. Wayne areas.