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Updated almost 3 years ago on . Most recent reply
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Unexpected capital gains catapult me into real estate business
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $300,000
Cash invested: $20,000
Sale price: $470,000
When I first purchased the home the idea of selling it did not cross my mind as finding the right one was a bit difficult but once I became aware of the type of money I could make, it opened a new world for me.
How did you finance this deal?
I did purchase the property with an FHA loan so with the closing costs and down payment I initially spent about $19,000.
How did you add value to the deal?
I did remodel the attic, adding living space to the home.