1st home investment Parkland Wa
Investment Info:
Single-family residence buy & hold investment in Parkland.
Purchase price: $210,550
Cash invested: $8,000
Sale price: $280,000
1st home purchase, renovated and lived in. Moved and rented for 2 yrs and sold to purchase another property.
What made you interested in investing in this type of deal?
I became a general contractor and have renovated many other homes and build custom homes for others. Now I'm ready to do this for myself full time.
I found my true passion and I'm working toward Manufactured Home Swaps
How did you find this deal and how did you negotiate it?
Found this deal on Zillow
How did you finance this deal?
FHA
How did you add value to the deal?
Sweat equity. The house was a dump and we roofed it, painted it, and systematically renovated the home room by room over a number of years doing nights and weekends.
What was the outcome?
A great return on investment.
Lessons learned? Challenges?
Good lessons learned in budget and timeline. I want to do these much faster. This being my fist was a learning process so much of the benefit was in the learning and not as much profit.
