First Live in Flip

[Melissa Yi]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $274,000
Cash invested: $45,000
Sale price: $433,000

Live in flip property.

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

This was our first investment into real estate. It was a great launching pad.

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

MLS

How did you finance this deal?

FHA Loan

How did you add value to the deal?

Forced appreciation through sweat equity

What was the outcome?

We made a fantastic return on our first investment!

Lessons learned? Challenges?

Rehab takes longer than expected and costs more than expected.

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

We have a great real estate agent - Melina Tomson in Salem, Oregon

[Melissa Yi]

@Timothy Howdeshell We sold it just over the 2 years so that we didn’t have to pay any capital gains. It’s a love and hate relationship. I love the return but it’s a lot of work and living in the construction can sometimes be difficult.