First Investment in Single Family
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $203,000
Cash invested: $30,000
Bought as a live and flip and house hack. Have rented out for a year.
What made you interested in investing in this type of deal?
It was my first property, bought it as a primary residence. Started listening to BP and alike podcasts and realized the properties potential. Started house hacking and making improvements to the home to increase value
How did you find this deal and how did you negotiate it?
MLS using a realtor
How did you finance this deal?
Using traditional financing through the bank
How did you add value to the deal?
I searched for properties that were dated and could have sweat equity
What was the outcome?
rehabbed the property and after a year re-appraised for $270,000. Used that money to buy another property where i'm repeating the process
Lessons learned? Challenges?
Do the renovations yourself is difficult but rewarding. even in tough buyer conditions, there are properties out there