Updated about 6 years ago on . Most recent reply
First investment house
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $10,000
Cash invested: $5,000
Sale price: $25,000
Purchased property. Rehab property. Cash flowed property via the Section 8 program and sold property as a cash flowing property.
What made you interested in investing in this type of deal?
I am a 10 year mortgage banker and started investing while I was dealing in whosale mortgages.
How did you find this deal and how did you negotiate it?
Found the deal by surfing the neighborhoods.
How did you finance this deal?
Cash
How did you add value to the deal?
New carpet, paint, light fixture, appliances and bathroom.
What was the outcome?
Beautiful
Lessons learned? Challenges?
Plumbing in old houses.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No