Updated almost 5 years ago on . Most recent reply
House Hacking / Fix & Flip
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $100,000
Cash invested: $40,000
Sale price: $186,000
Purchased a set of fixer uppers on Ohio River, both for $100k. Purchase included 2 homes: one, a manufactured 3 bed / 3 bath A-frame which would serve as my wife I's primary residence for 5 years & the second, a 2 bed / 1 bath home built in the 1930s. Sold off the 2 bed home for $43k to another investor. Spent around $40k on the 3 Bed home to fix foundation issues, replace roof, as well as other minor updates while we resided in home. Sold this home for $143,000.
How did you finance this deal?
Local lender / conventional 15 year loan