Yellow Door Home #3 in east Minot
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $80,500
Cash invested: $20,000
VA Foreclosure pick up. We won a bidding war to snag this one. After about 5k in renovations, we forced appreciate it 80k!!! This is our best deal by a lot.
What made you interested in investing in this type of deal?
Single family homes have the best cash flow margins in this area.
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Conventional loan
How did you add value to the deal?
Floors / paint / dry wall / miscellaneous upgrades
What was the outcome?
80K forced appreciation & $400 net cash flow.
Lessons learned? Challenges?
It took a month longer to turn then we anticipated, but it was worth it in the end.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My wife is an agent. We have 2 great lenders and multiple excellent sub contractors.
