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Updated over 6 years ago on .

User Stats

58
Posts
27
Votes
Ashton Sharp
  • Rental Property Investor
  • Bakersfield, CA
27
Votes |
58
Posts

The unintentional flip!

Ashton Sharp
  • Rental Property Investor
  • Bakersfield, CA
Posted
Here is the scoop BP! In August 2015 I purchased a SFH 3/2 at $120,000 as a home for my new growing family. And all i knew about REI was I needed to buy before my daughter was born, which was hurtling towards me(november 7 2015). We move in after a 98 day escrow period which was a nightmare, and find out we really knew nothing about houses. And we didnt have the cash to fix it how we wanted. So fast forward too February 2018, 3 years and another child later, my family and I experienced a house fire and let me tell you, it was horrifying. BUT everything went really well, noone sustained injury, and after 2 years of BP and learning why I bought the wrong house fortune smiled on me. I GC´d the repair and reno of our burnt out husk, and the insurance saw fit to put $130,000 into our house. So we get moved back in, lifes good. Check the market out of curiosity and gpu d out we have an ARV of $190,000 So as of today our home has been on the market for a month and a few days and we are hoping to realize some equity capture!