Live in, hold, flip!

[Vincent Reid]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $79,000
Cash invested: $5,000
Sale price: $120,000

This was my personal property. We received the "obama" tax credit which gave us 8k at closing! This was no money down. We lived in it most of the time then rented it out for 2yrs at $1,100 per month.

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

It was my first home.

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

Used an agent

How did you finance this deal?

FHA loan

How did you add value to the deal?

New floors, paint, bathroom.

What was the outcome?

Great deal, sold for 122k

Lessons learned? Challenges?

You make your money when you buy!