Future deal stepping stone.
Investment Info:
Single-family residence fix & flip investment in Mountlake Terrace.
Purchase price: $250,000
Cash invested: $20,000
Purchased this home to live in while doing a full remodel myself. Creating sweat equity for sale at a later date for future investments.
What made you interested in investing in this type of deal?
Sale price. In up and coming neighborhood
How did you find this deal and how did you negotiate it?
Driving around and talking to neighbors in the area.
How did you finance this deal?
Bank financing
How did you add value to the deal?
My back :)
What was the outcome?
About 250k in equity so far.
Lessons learned? Challenges?
Tons of construction skills further polished!