House Hack. Market improvement.

[Tim Walsh]

Investment Info:

Single-family residence buy & hold investment in Columbia.

Purchase price: $79,500
Cash invested: $6,500
Sale price: $107,500

Bought as my home and did some improvements - updated bath, new room, flooring. Nothing too major.

Moved and rented it out.

Decided to sell because it was out of the way and could get a good price, return.

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

I was looking for a place to live in the area. Lived there for awhile but moved and rented it out. Too much work for a SFR to manage on my own.

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

MLS.

How did you finance this deal?

FHA Loan

How did you add value to the deal?

Small improvements and the market improved.

What was the outcome?

Closed with about 20k. Worked out well.

Lessons learned? Challenges?

Takeaway from this was if you are going to self manage, be mindful of distance. I ended up moving farther away from the home and making repairs, going to the house added up.