My first home - Turned into a fix and sell

[Codie Mauleon]

Investment Info:

Single-family residence fix & flip investment in Citrus Heights.

Purchase price: $160,000
Cash invested: $30,000
Sale price: $320,000

I purchased as my primary residence when I was 21. I wanted to always keep as a rental, but had huge equity and I want to keep that money flowing and do more RE investing.

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

I wanted my first home and I understood that it was an investment but didn’t realize how it would spark my need to keep investing!

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

RE Agent

How did you finance this deal?

FHA

What was the outcome?

We took about a month to fix the house (flooring, popcorn ceilings paint, landscaping) We also got a new HVAC system with a program for energy efficiency loans that add on to the original loan.

Lessons learned? Challenges?

Living in a house that is under construction is super difficult! I actually just thought I was fixing the house so that I could live in it... I had no idea I would get all of my money back and then some!