Great return for a fist investment

[Dylan Vickery]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $85,000
Cash invested: $1,500
Sale price: $129,950

This is was my first deal i was renting it for $1000 a month and the previous owner had updated all the appliances new kitchen floor and refinished the hardwoods with custom blinds throughout the house I approached the owner wanting to buy he agreed I bought it for 85000 I paid $68 down the seller paid the closing costs and I got a grant for the down payment I lived in the property for 2 years and sold it for 130000 with just painting the interior and exterior making custom trim work

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

I was interested in real wastage and this was a great opportunity when I bought and sold

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

I worked with a my father’s business partner

How did you finance this deal?

Conventional 30 year fixed

How did you add value to the deal?

Just a basic refresh

What was the outcome?

A 40,000 dollar profit

Lessons learned? Challenges?

I had planned to keep it as a rental but looking at the market it made more sense to sell