Buy and Hold for parents
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $145,000
Cash invested: $10,000
Sale price: $230,000
Purchased as a place for my parents to live. Appreciated greatly in short amount of time. This is what got me interested in property investments.
How did you find this deal and how did you negotiate it?
Purchased off market from family of a friend
How did you finance this deal?
conventional loan
How did you add value to the deal?
New carpet, new paint, new landscaping
What was the outcome?
Listed on market. Had an offer in 2 weeks
Lessons learned? Challenges?
This was an accidental introduction into the world of investing and also my first home purchase and sell.