Updated over 10 years ago on . Most recent reply
Great Equity, Great Cash Flow
My success story is about my second investment property. It is a 4 bed, 2 bath single family home on .75 acre. Bank owned, it sat unsold for nearly a year due to foundation problems. I bought it for only $70K, put $20K into fixing the foundation problem, new a/c and heat, new roof, interior renovation, and landscaping. Tenants love it (it rents within a day), cash flows at about $600 in pocket per month, and is valued at nearly $160K after only 1.5 year. To boot? It's located in a corridor that is currently mixed residential and commercial, with future commercial expansion...great future value for the land itself. Yay me!