Updated about 5 years ago on . Most recent reply
Long term flip/second investment
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $285,000
Cash invested: $56,000
Sale price: $700,000
This was actually our residence for this period of time
How did you find this deal and how did you negotiate it?
This was a foreclosure, i found it while driving through the neighborhood
How did you finance this deal?
Traditional lending from the bank and a personal loan for part of the 20% down payment
How did you add value to the deal?
The house was in disrepair, i am in consturution so we basically gutted the house and made it brand new
What was the outcome?
Started with 10k, and left with 500k
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Dani Wilcox KW