First Personal Home Investment

[Jeremiah Weld]

Investment Info:

Single-family residence other investment.

Purchase price: $105,900
Cash invested: $55,000

This is my first live in flip and currently is my residence. We where able to increase the home value by 105,000 from ARV.

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

The home was a bank owned property that was move in ready but in need of updating.

How did you finance this deal?

I purchased the home via FHA bank loan and made renovations out of pocket.

How did you add value to the deal?

We rehabbed the home.

What was the outcome?

The home appraisal was for $105,000 more than ARV.

Lessons learned? Challenges?

Finding funding was the hardest variable for me so I had to do the upgrades over time when capital came in from my 9-5 job.