Purchased to live in but also flipped for profit

[Nik Mebane]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $164,000
Cash invested: $5,000
Sale price: $195,000

This was a live and flip. We used the first time home buyer incentive program and got $8,000 at closing. We completely renovated interior ourselves over the next few years. New flooring and paint. All new fixtures, switches and outlets. Put around $5,000 into it. Was listed on the market for 1 day before we were offered our full asking price. Walked away with close to $20k that was used as a down payment on our next place.