Updated over 4 years ago on .
First starter home led to rental unit and eventual flip
Investment Info:
Single-family residence other investment in Cleves.
Purchase price: $73,500
Cash invested: $8,000
Sale price: $99,000
Purchased single family residence in early 2018. Originally planned to use as permanent residence. Job opportunity led me to renting the property for about two years, netting 200/ mo. Completed renovations mid 2020 and sold for 99k.
How did you find this deal and how did you negotiate it?
Zillow. House was As-Is and in need of major repairs. Negotiated a 6k lower purchase price than asking.
How did you finance this deal?
Traditional mortgage.
How did you add value to the deal?
Lots of sweat equity
Lessons learned? Challenges?
Don't accept an out of state job offer immediately after purchasing a home :)