Updated over 2 years ago on .
Naugatuck rental turned to flip
Investment Info:
Single-family residence other investment.
Purchase price: $135,000
Cash invested: $40,000
Bought a single family in Naugatuck with the intention of renting it out. After a few weeks of trying and tenants not liking the narrow stairway, we found a buyer for the property. We are selling it for 200,000 once we get past the 90 day rule.
What made you interested in investing in this type of deal?
Love nearly any investment in Naugatuck if the numbers work. It's our primary spot.
How did you find this deal and how did you negotiate it?
Wholesaler who had picked it up for 90k
How did you finance this deal?
We took out an investor mortgage on it.
What was the outcome?
Waiting to sell it
Lessons learned? Challenges?
Pretty straight forward on this one. Went under contract sight unseen and knew we wanted it.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Myself ;)