Personal Residence Reno to 1st Rental

[Denis Ponder]

Investment Info:

Condo buy & hold investment.

Purchase price: $99,000
Cash invested: $20,000

Personal condo my wife and I purchased several years ago. We are renovating all bathrooms, new flooring upstairs, new countertops in the kitchen. I have already updated the fireplace and added a kitchen backsplash.

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

We bought this as a personal residence years ago. We are getting it ready to rent and find our next property.

How did you finance this deal?

Bank loan

How did you add value to the deal?

Renovate bathrooms, update kitchen and fireplace, new floors