My first house/live in remodel then rental

[Melissa Murphy]

Investment Info:

Single-family residence buy & hold investment in Spokane.

Purchase price: $135,000
Cash invested: $27,000
Sale price: $214,900

My first house! This was a run down single family home on the South Hill. It had a large oversized lot. I remember the kitchen remodel, living in the home and having to make coffee with water from the bathtub. It took us 6 weeks to complete, because we did all the work ourselves. Next, we tackled the basement installing two egress windows and remodeling the bathroom. In 2007, it became a rental property until 2009.