First live-in remodel

[Jon R Gimble]

Investment Info:

Single-family residence fix & flip investment in Waco.

Purchase price: $205,000
Cash invested: $50,000
Sale price: $289,000

Home purchased as primary residence.

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

purchased from friend's grandmother.

How did you finance this deal?

conventional loan

How did you add value to the deal?

Repaired subfloor and pier and beam foundation due to water intrusion, added French drain to stop water intrusion, and redid floors, fresh paint, and removal of rotten pergola.

What was the outcome?

Sold after four years of ownership to purchase next project/residence.