Updated almost 6 years ago on .
Bought a house with refinance money
Investment Info:
Single-family residence fix & flip investment in Jersey City.
Purchase price: $645,000
Cash invested: $55,000
Sale price: $795,000
Beautiful Victorian right on the Park
What made you interested in investing in this type of deal?
It was located on a 250 acre park in a developing neighborhood
How did you find this deal and how did you negotiate it?
I was looking for houses with the most amount of amenities in a fringe market
How did you finance this deal?
I bought the house using the refinance money from one of my other properties
How did you add value to the deal?
renovated the kitchen and bathrooms
What was the outcome?
Sold the property and was able to buy my next house in cash and pay off the mortgage of one of my investment properties
Lessons learned? Challenges?
fringe neighborhoods can take longer to develop than you might hope for.
