First flip turned buy and hold

[Dale Humphrey]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000
Cash invested: $15,000

After I got the property and renovated it I couldn't make a profitable sell so I rent it

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

I've been a tradesman since I was 15 started out in drywall finishing and moved on to Electric HVAC & Plumbing in 2007 when construction slowed up I took a job for Sears and became Appliance repair master

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

My mom I came home from the navy with a wife and 2 kids so my mom helped me get the house

How did you finance this deal?

Cash

How did you add value to the deal?

Renovated

What was the outcome?

Rents for $750

Lessons learned? Challenges?

Never have Sears upgrade your kitchen do it yourself even if you have a discount

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No