First Time Home Builder

[Joseph Kneen]

Investment Info:

Single-family residence buy & hold investment in Homer.

Purchase price: $205,000

Cash invested: $205,000

Built my own home with possibility of selling in two years minus cap gains tax. Or potentially renting out.

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

Experience in building homes for others who made profits.

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

Lots of research but also knowing others who can help and have ears in different places

How did you finance this deal?

FTHB conventional home loan

How did you add value to the deal?

Buying before land was listed. Built with much sweat equity.

What was the outcome?

TBD

Lessons learned? Challenges?

Preparation sure beats desperation. Know your estimates accurately (time & resources).