Updated over 6 years ago on . Most recent reply
Full Renovation - Rent to Buy - Baltimore
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $20,000
Cash invested: $70,000
Sale price: $125,000
My wife and I purchased a townhome shell in Baltimore City for $20,000. We drew about $75,000 from a low interest HELOC to finance the renovation. We rented it for $900 (approx. $450 in net cash flow) and eventually sold for $125,000. It turned out to be a great investment but I'm not sure I would build out a shell again -- took a lot of time and energy and it was much more "hands-on" than anticipated. Good experience, however.