Property #2 (Rent and Flip)
Investment Info:
Other fix & flip investment in Centerville.
Purchase price: $49,200
Cash invested: $15,000
Sale price: $87,500
2 bed, 1.5 bath condo
What made you interested in investing in this type of deal?
It was across the street from our first investment property
How did you find this deal and how did you negotiate it?
We had heard it was going to hit the MLS
How did you finance this deal?
20% down, 30 yr mortgage
How did you add value to the deal?
Complete gut
What was the outcome?
Rented for 2 yrs then sold
Lessons learned? Challenges?
PATIENCE! I should have waited for another set of good renters instead of selling.