Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on .

User Stats

25
Posts
19
Votes
John R Kepler
19
Votes |
25
Posts

My first House and home

John R Kepler
Posted

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $28,000
Cash invested: $15,000
Sale price: $32,000

In the Marine Corps. A live in fix and flip. I took a part time job to help pay my $126 mortgage.

What made you interested in investing in this type of deal?

I had bought a General Development house lot through Military Sales when I was 19. I later started doing sales for them in Okinawa and bought another lot. They were not good investments but I did eventually make a little bit. More importantly they introduced a 19 year old kid to the possibilities of real estate.

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

Realtor. Bobby Reddick. Crazy that I can still remember his name after 50 years.

How did you finance this deal?

I had 15k tied up in a CD at the time. Interest rates were like 14 or 15% back then. I swallowed my pride and the lump in my throat and asked my brand new inlaws to loan me 15k for 6 months while my CD matured and I would pay them back with interest. They did and the rest of the mortgage was conventional.

How did you add value to the deal?

House was solid but had been a rental. New flooring, painted inside and out, new fence and landscaping.

What was the outcome?

We had a place to live, made a profit and  I had the best credit rating in my misfit family.

Lessons learned? Challenges?

The power of curb appeal, not to over improve for the neighborhood, that I was able to do what many of my peers did not. Always live within your means is the first step to having more means.

  • John R Kepler