Purchased a 2 Brm/ coverted to 4 Brm- Instant 40k Equity wow

[Wale Ehinmidu]

Investment Info:

Single-family residence buy & hold investment in Uppr Marlboro.

Purchase price: $240,000
Cash invested: $20,000

Initial plan was to buy for "Fix and Flip" but i ended up keeping it for personal living. The Goal is to keep this baby for 5 years Max, add to the value and Flip it.. Location is great and very convenient to everywhere i need to go.

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

The condition i met the property convinced me to purchased it. The previous owner left the property in a well living condition, Nothing mush to fix, it just needed to be upgraded to modern look.

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

After 2 months of searches, viewing, failed offers, this property appeared online via HUD Listing.

How did you finance this deal?

203k FHA loan

How did you add value to the deal?

As a General Contractor, the interior finishing is very important to me so that was one of my major focus. New painting, Open Wall Concept, expansion, New updated Appliances, Fence repair, Swimming pool repair etc.