829 Olivina Ave

[Melanie Bradford]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $336,000
Cash invested: $115,000
Sale price: $330,000

Purchased and had to sell after a death in the family.

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

To have my own home after the death of my mom.

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

I just looked locally and had negotiated a rent to own option for one month after my funding fell through.

How did you finance this deal?

FHA first time home buyer using life insurance policy funds.

How did you add value to the deal?

Reno'd the bathroom, improved the HVAC and electrical with State funding for low income home owners.

What was the outcome?

The home was starting to look better before I had to move out of state.

Lessons learned? Challenges?

I would have stayed in the house to gain the equity since the area was so prime and has now since gone up over 3 times the amount in equity.

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

No.