First Investment: SFH Primary Residence/Value-Add

[Nikolas Crawley]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $259,000
Cash invested: $16,000

Live-in Fixer Upper. Currently planned as a long-term hold.

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

I wanted something that I could build equity in through forced appreciation as well as to have a place for my wife and I to start our family.

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

Zillow/MLS. It was on the market for over 200 days. We negotiated through our Agent and talked the price down. Then renegotiated after inspections.

How did you finance this deal?

Traditional Mortgage

How did you add value to the deal?

Fixing and updating it as we live in it. Lots of minor problems that are simple to fix with a little bit of effort. Also planning on turning a separated bathroom into two full baths.

What was the outcome?

Still in Progress!