First investment property and sold during COVID

[Tavis Stice]

Investment Info:

Single-family residence buy & hold investment in Joliet.

Purchase price: $75,000
Cash invested: $40,000
Sale price: $175,000

Property was purchased as a short-sale and extensively rehabed prior to renting. Quite the learning experience with this one as the home was built in 1915 and there were multiple generations of poor renovation attempts. Rehab included: new roof, basement drain tiles/sump pump, bathroom renovation, kitchen renovation, upgraded lighting in kitchen&living room, new smoke detectors connected to power, ran electrical to detached garage, paved driveway, painted throughout, re-finished hardwood floors