Updated almost 5 years ago on . Most recent reply
First Investment is a success! Thanks BP!
Investment Info:
Mobile home fix & flip investment in Clearwater.
Purchase price: $182,000
Cash invested: $30,000
Sale price: $275,000
This is my first ever investment. I purchased this as my primary residence in July of 2019 and through a lot of time learning I am closing on Feb. 5th 2021 with over a 100% return on my investment!
What made you interested in investing in this type of deal?
Paying Rent!
How did you find this deal and how did you negotiate it?
Through a local real estate agent I know personally. Negotiated by inspecting the property, and negotiating problems to be fixed, or price to be lowered.
How did you finance this deal?
Conventional Loan 3 % down
How did you add value to the deal?
Completely renovating the interior and exterior.
What was the outcome?
A beautiful place I am proud to call home, but even more excited to call my first investment.
Lessons learned? Challenges?
Set clear expectations with contractors, scopes of work, time lines, payment schedules, etc.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Tory Belloise is an awesome agent in the area, very friendly, professional, and punctual!