Updated about 1 year ago on . Most recent reply
1st DIY Property Flip
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $75,000
Cash invested: $25,000
Purchased this SFR as a rental investment property.
What made you interested in investing in this type of deal?
A SFR is an ideal property because they are easier to sell but I'm familiar with the area which has seen growth over the past 20 years. Renters are always on the market and because I invested with a family member due to our experience in construction, it was a good opportunity to get our hands dirty and learn as much as possible about flipping a property as well as being landlords.
How did you find this deal and how did you negotiate it?
Online - easy owner to negotiate with.
How did you finance this deal?
Personal financing
How did you add value to the deal?
Added new drywall where necessary, new kitchen cabinets, flooring and paint
What was the outcome?
Have had steady rental income for 10 years