3/2/2 Single Family 1031 exchange

[Monte Blackwell]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,000
Cash invested: $9,000

70's 3/2/2 in a great neighborhood. I bought this house for $87 per sq ft. I completely gutted the house, re-tiled, re-painted, pulled up carpet, pushed up the ceilings. Landscaped completely and presently should sell for roughly $100 per sq/ft.

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

I got an offer on my house so I figured I would house hack this deal.

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

I actually found this one on the market. It was being marketed by a Realtor.

How did you finance this deal?

I actually ran into a 1031 exchange issue on this deal. I had to finance as investment to avoid capital gains tax.

How did you add value to the deal?

Landscaped, re-painted, bull nosed all the corners, removed old popcorn acoustic, pushed up low ceilings, opened up the Kitchen and dining area.