Updated about 4 years ago on . Most recent reply
Out of state Primary turned rental
Investment Info:
Single-family residence other investment in Beaver Dam.
Purchase price: $75,000
Sale price: $131,500
primary residence for 7 years , then turned rental. Finally sold to renter after 13 years
What made you interested in investing in this type of deal?
we were moving out of state and couldn't sell the home in designated amount of time.
How did you find this deal and how did you negotiate it?
place an add, wrote a land contract
How did you finance this deal?
primary mortgage, didn't refinance as investment until 2015 (rental from 2008-2020)
How did you add value to the deal?
finished basement, covid appreciated housing market
What was the outcome?
good returns
Lessons learned? Challenges?
improvements/fixes from states away was a challenge