Beginner in Real Estate

[Don St. George]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $150,000
Sale price: $190,000

Purchased this property as a first time home buyer and decided to sell it for a profit after living there for almost 2 years. Most of the repairs were done by my wife and myself at our own pace and most of the repairs were cosmetic.

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

Worked with a real estate agent.

How did you finance this deal?

FHA

How did you add value to the deal?

Mainly cosmetic work done personally.

What was the outcome?

Profited $40,000 on the sale.

Lessons learned? Challenges?

I learned that I should have held on to the property for 2 years to avoid any capital gains taxes.