Updated over 5 years ago on .
Reverse Mortgage REO SFR Buy and Hold
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $740,000
Cash invested: $20,000
Purchased with ex and turned over in separation. This was a reverse mortgage REO. Great purchase. Turned out that there was more land than indicated after performance of survey.
What made you interested in investing in this type of deal?
Price and land.
How did you find this deal and how did you negotiate it?
Realtor listed REO
How did you finance this deal?
Primary residence loan
How did you add value to the deal?
remodeled inside
What was the outcome?
worth $185,000 in 2015