My eye opener!

[John Graves]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $30,000

My primary turned investment. Couple hundred k in equity. Value still going up! Cash flowing unicorn of a house. Looking for more grails like this one!

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

I needed a place to live and got so much more

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

I found it myself on the MLS in 2014 when things were just starting to move upwards again.

How did you finance this deal?

FHA 3.5% down

How did you add value to the deal?

New roof, New HVAC, Replace Siding, Paint, bathroom remodel

What was the outcome?

Its about half the work im going to do to the place. Over the last 10 years my house has appreciated in value right at 3x. After I add another 20-30k to it. I will be able to re appraise that to 4x, easily.

Lessons learned? Challenges?

Put in the work. Do as much as I can myself and pay for the things to be done correctly, that are outside of my skill range.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jay Unger was my local guy. I don't believe hes a member here, but he was fantastic!