Live in flip, to rental, to profit

[Jessie Tait]

Investment Info:

Single-family residence other investment in Pittsburgh.

Purchase price: $112,000
Sale price: $160,000

Bought for my personal residence as a single girl. Researched area and bought in this neighborhood based on proximity to other areas coming up. Lived in it for three years, rented it out for 2 when I moved in with my now husband. Sold it for a large profit, which allowed me to start my business. Spent $9,000 in rehab costs, but put in a lot of sweat equity, as I'm fairly handy.

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

Necessity 😁 I would have sold sooner, but the market was terrible. I reluctantly rented out my house, but it really worked out for me. November 2016, when I moved out, I would have been lucky to get $125,000. But holding on for the next 18 months allowed me to pull on another $35,000 because the market jumped.

How did you add value to the deal?

Smart reno, prepping it for the masses, not my own needs, great marketing and photos.