Newton master suit addition

[William Ladd]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $605,000
Cash invested: $242,000
Sale price: $1,012,000

We converted the garage into the kitchen and took the roof off the garage and added a master suite. First floor and the existing bedrooms were just updated with new paint and faux paneling. Floors re-done. We re-did the old bathroom and added a master bath with the master suite.

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

Wealthy neighborhood. We knew we could add to the square footage by adding that master suite fairly easily.

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

MLS. It was in very good shape, just really dated.

How did you finance this deal?

Construction loan.

How did you add value to the deal?

By converting the attached single story garage into two floors. We made the new space over the garage a master suite and we made the old garage a kitchen.

What was the outcome?

Good deal.