First Investment Property

[Hollie McClellan]

Investment Info:

Single-family residence buy & hold investment in Kingwood.

Purchase price: $75,000
Cash invested: $7,000
Sale price: $178,500

Purchased this foreclosure and occupied as primary residence while I remodeled it. Sold house last year for a huge profit.

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

I got a great deal on house as it was in need of a lot of cosmetic repair.

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

I got lucky and ran across it on an internet search.

How did you finance this deal?

FHA Rehab loan

How did you add value to the deal?

Installed new flooring throughout.