Live-in flip of historical house

[Patrick Hoyle]

Investment Info:

Single-family residence fix & flip investment in Louisville.

Purchase price: $70,000
Cash invested: $20,000
Sale price: $185,000

Live-in flip of historical house

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

Foreclosure and location

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

Right time. Right place. I stumbled onto it.

How did you finance this deal?

Conventional, 0% down

How did you add value to the deal?

Complete remodel. Most work completed by my handyman business.

What was the outcome?

Enough money to invest in the next deal.

Lessons learned? Challenges?

Live-in flip is not for everyone. It makes having friends and dating more challenging.

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

A random real estate agent for purchase and a regional lender... nothing worthy of recommendations.