Large custom house currently being renovated

[James Canoy]

Investment Info:

Single-family residence fix & flip investment in Purling.

Purchase price: $200,000
Cash invested: $74,000
Sale price: $420,000

In progress--72.40 acre private estate. Set in a secluded and tranquil park-like setting, this barn style custom home is ideal for the avid hunter or for someone who appreciates privacy and longs to get away from the hustle and bustle of city living. The perfect weekend retreat or primary residence comprised of a capacious living area to easily accommodate all your friends and family. Renovations still in progress.

The house is rural and little strange in architecture. VERY large garage.

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

It started as a way to earn money in order to pursue multifamily rentals. However, now that I'm beginning to know what I'm doing and I'm getting over the fear it has become enjoyable in it's own right.

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

It was a foreclosure that got lost in the shuffle. I just happened to be there.

How did you finance this deal?

Traditional bank and and reno loan

How did you add value to the deal?

It was a house that was unfinished and in an out of the way location JUUUST off the hot area.

What was the outcome?

in progress