Adding a Rental to a primary home.
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $375,000
Cash invested: $60,000
Sale price: $525,000
This home was build in the 1980's. Had older heat system that needed to be updated. Interior was good but needed painting. Main project was to take out the old boiler system and upgrade that for the radiant floor heat. Also there was an unfinished apartment on the garage that I finished out. Added a new cistern for water and added a shop bathroom in addition to completing the apartment. There was not water or septic connection to that building previous so it was a big project to get connections added.