My first investment property!

[Brock Reed]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $12,000
Cash invested: $8,000

First investment ever. I purchased this home when I was 17 and slowly renovated it on the weekends. Through my giving to the church, God blessed me with this amazing steal of a house. The foundation was completely rotted out and the house was falling in on itself, but after repairs it has made a great home to two different families. It's amazing what new flooring, cabinets, and paint will do to a home.

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

My family has always been big into investing so I decided to spread my wings and fly on my own at a young age.

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

This was an off market deal that an older lady presented to me. She was asking for $20,000 but due to the horrible shape of the home I offered $12,000 and she accepted.

How did you finance this deal?

I paid cash.

How did you add value to the deal?

Completely renovated the inside and repaired the foundation of the house.