My first investment build

[Ray Galyean]

Investment Info:

Single-family residence other investment.

Purchase price: $265,000
Cash invested: $265,000
Sale price: $345,000

Built house in 5 months lived in and sold after 14 months.

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

Always loved real estate and my wife has a degree in art and design.

How did you find this deal and how did you negotiate it?

I worked with the subs I knew and grew up with in the area.

How did you finance this deal?

Bank financing

How did you add value to the deal?

Bought the 9 acre lot in cash. I had all the subs lined up for the job and did the landscaping on my own.

What was the outcome?

Sold for an 80k profit.

Lessons learned? Challenges?

Should have broke the land up and built more houses there.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Robin Crestman