Love my Holladay house

[Cody Tanner]

Investment Info:

Single-family residence buy & hold investment in Holladay.

Purchase price: $290,000
Cash invested: $45,000

I live in the basement and the upstairs pays me :)

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

I wanted to live there as well as it was less expensive than all the surrounding areas so I figured it had a high probability for appreciation in addition to cashflow.

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

Found it on the MLS. They were overpriced. Kept submitting offers for a few months until they finally caved.

How did you finance this deal?

Bank Financing

How did you add value to the deal?

When I purchased, it had been smoked in and just needed a full face lift. I ended up remodeling the kitchen and removed a wall and put a beam in its place and modernized the whole house.

What was the outcome?

Property cashflows and gives me a great place to live

Lessons learned? Challenges?

I paid too much for this property if I were to *flip* it. I knew going in it was going to be long term, but I would need an even better deal if it was a flip.