Single family HUD owner occupant turned investment

[Mark Glasgow]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $30,000
Cash invested: $45,000

Purchased from HUD for 28,700 with another 15k invested. Home appraised for 135,000. And rents for 1200/mo

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

Cheap initial investment with built in opportunity as an owner occupant

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

Found on mls and offered over asking as per my realtors advice

How did you finance this deal?

All cash no inspections

How did you add value to the deal?

Kitchen and bathroom remodel. Added laundry and doshwasher

What was the outcome?

Roughly 80k in equity and 14k/yr in rent

Lessons learned? Challenges?

Move quickly on a good deal

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

Rita beaty of 1st choice realty