Updated over 4 years ago on . Most recent reply
Owner Builder with hard money
Investment Info:
Single-family residence private money loan investment in Apple Valley.
Purchase price: $50,000
Cash invested: $150,000
Sale price: $360,000
bought vacant .51 acre lot, build a 1831 sqft, 4 bedroom 2 bath and sold house in 6 months.
What made you interested in investing in this type of deal?
high returns on a 4 months build. 3 months listed on market and sold for $360k.
How did you find this deal and how did you negotiate it?
found this deal from a local real estate agent. purchased the land through agent and paid in cash.
How did you finance this deal?
hard money loan
How did you add value to the deal?
build as ownder builder with my team of highly skilled contractors.
What was the outcome?
from date of permit approval to certificate of occupancy was 4 months. sold in 3 months and profited $130k after all fees.
Lessons learned? Challenges?
should have kept the house and rented out. wished i knew the BRRRR method then.
