Long term flip/second investment

4 Replies

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $285,000
Cash invested: $56,000
Sale price: $700,000

This was actually our residence for this period of time

How did you find this deal and how did you negotiate it?

This was a foreclosure, i found it while driving through the neighborhood

How did you finance this deal?

Traditional lending from the bank and a personal loan for part of the 20% down payment

How did you add value to the deal?

The house was in disrepair, i am in consturution so we basically gutted the house and made it brand new

What was the outcome?

Started with 10k, and left with 500k

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Dani Wilcox KW

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