Fix and Flip turned rental

[Alicia Stoughton]

Investment Info:

Single-family residence buy & hold investment in Cincinnati.

Purchase price: $45,000
Cash invested: $120,000

This project was originally a fix and flip, and we changed course to a rental property towards the end. We had a major contractor issue early on that then made the profit margin so small it made sense to keep as a rental.

Lessons learned? Challenges?

Thoroughly vet your contractor! Through our experience with this contractor, we made a lot of changes in how we manage contractors and vet them. We probably would not have switched to a rental property had we not had this run in, and for that though I am thankful.