Updated over 3 years ago on . Most recent reply
buy and hold investor
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $120,000
Cash invested: $80,000
Sale price: $372,000
family home complete gut 1200sq’ took about 6 months now its being rented with $200 month cash flow
What made you interested in investing in this type of deal?
i know i could get it done plenty of equity and it was a family home
How did you find this deal and how did you negotiate it?
it was across the street from my house so after it sit for 2yrs my wife and i made an offer
How did you finance this deal?
hard money lender with $18,000 down
How did you add value to the deal?
complete renovation
What was the outcome?
very good i’m getting monthly cash flow and about $60000 in equity
Lessons learned? Challenges?
screening contractors did more physical labor then i wanted learning about the county rules and regulations permits
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
new funding