Investment Info:

Single-family residence buy & hold investment.

Purchase price: $145,000
Cash invested: $28,000
Sale price: $230,000

Purchased this property to live in and fixed up the basement over time. Added tile to kitchen floor and painted kitchen cabinets. I put in a patio behind the outside. After a few years, I sold it to a cash buyer.

What made you interested in investing in this type of deal?

We liked the neighborhood and planned on living in the area.

How did you find this deal and how did you negotiate it?

It was listed on MLS. Since it was an estate sale, we made an offer and give 24 hours for the seller to accept the offer.

How did you finance this deal?

Traditional financing.

How did you add value to the deal?

Updated basement and added nice touches to kitchen. We refinished the hardwood floors and put a patio behind the house.

What was the outcome?

We made a profit and put the money into our next purchase.

Lessons learned? Challenges?

While I made a nice profit, I should have held onto the property!