Cheapest house in the best zip code we could afford.
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $154,900
Cash invested: $75,000
Sale price: $390,000
We got started investing through our primary residences. This has been an incredible model for us. My wife and I are on to our 4th home together and each on we purchase, rehabbed, lived in a few years, leased it our for a few years and then sold while we could still take advantage of the capital gains tax exemption provided for homes that you live in.
How did you finance this deal?
conventional financing with 5% down.
How did you add value to the deal?
Enclosed a garage and remodeled interior/exterior. Added 2 car garage in rear.
What was the outcome?
over 100k in tax free profits after we enjoyed a new home for a bit, and then cash flowed $1000 on top of our mortgage for 2 years before selling it.
