First Buy, Hold, and Flip

[Shayna Gorton]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $88,000
Sale price: $183,000

This was our first property and over ten years we used it for vacation rental income and our first flip

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

Agent

How did you finance this deal?

Tradition mortgage for first time buyers

Lessons learned? Challenges?

We had a challenge valuing this property since it it a manufactured home on a permanent slab. So comps for single home tend to be higher and comps for manufactured are lower. We won't be purchasing manufactured in the future due to the perceived value of these homes.