Live and sell for gain

[Davy Singleton]

Investment Info:

Single-family residence note investment investment in Webster.

Purchase price: $118,000
Cash invested: $23,000
Sale price: $195,000

This is a 1200 sqft 3 bed 2 bath on 1 acre and on a lake.

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

We purchased the house as a investment and a place to live because it was close to my work. In two years I changed location and we sold it. After closing we made $49,800

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

My wife and I was looking for a house close to my work and something we could put a little money in and turn a profit when we sold it. knowing nothing about real estate we have a real estate agent find it and I made and offer 30% lower than asking price.

How did you finance this deal?

We got a USDA LOAN.

How did you add value to the deal?

The owner needed to sell so they could finish a house they bought and I gave them 30 extra days to close

What was the outcome?

Got the property for 30% less and sold for $49k profit

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

YES