Our 1st deal- New Const.
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $505,000
Cash invested: $600,000
Right before Covid hit, we have purchased a distressed house in Plainview ( Long Island NY ) for $505k, Demoed it, and started a New Const at $600k+.
Since the market went up, instead of selling it, we realized the profit we intended to do from the New Const through selling our current home and move into a custom made 3300 sqf home...The beauty is that after Cashing out - Refinance, the monthly mortgage payment wont be extremely far from what we used to pay.
Keeping in mind it was our 1st Real Estate deal, I belive God was guiding us through.