Updated 10 months ago on .
My first house
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $290,000
Cash invested: $40,000
This is my own personal house my wife and I bought and are fixing up/ value adding. We plan to live here for another year or 2 and hopefully refinance/ cash out heloc to buy next home- or we will just sell it for what should be a modest profit
Purchased for 290k in 2023
We’ve put around 40k into the house granted I did a little more than i normally would have given its our home not just a house
Zestimate/ comps put us modestly at around 340k right now. But thats not including improvements like kitchen, finished basement, new patio/ landscaping.
What made you interested in investing in this type of deal?
Good market, makageable repairs, and within budget
How did you find this deal and how did you negotiate it?
Through a local realtor and lender
How did you finance this deal?
Total mortgage first time home buyers mortgage
How did you add value to the deal?
New kitchen, hardwood floors, paint- all new finished basement adds 200 sf living space. New patio/ landscaping
What was the outcome?
Still working here/ living here
Lessons learned? Challenges?
Build out a better budget from the start