Updated about 5 years ago on .
Couldn't sell, so I rented my old live-in fixer-upper
Investment Info:
Single-family residence buy & hold investment in Basehor.
Purchase price: $67,000
Cash invested: $25,000
Wasn't planning to run a rental unit, but was kind of forced into it. It's working out OK, but that's got me a taste for it, and now I want to do some 4-plexes!
We took this house from bare subfloors to what it is today.
How did you finance this deal?
Got some silly FDA Rural Development loan for 100% financed and put what we had saved for downpayment into tools and materials like hardwood floors.
How did you add value to the deal?
Lots of forced equity!
What was the outcome?
Appraised ~$175K in 2019 (if I recall correctly)
