Primary Home/investment Property on the Edge of City Growth

[Jesse Aycock]

Investment Info:

Single-family residence other investment.

Purchase price: $275,000
Cash invested: $275,000

First personal home for investment built for $275,000 and appraises for $137 per square foot. Finishing another 360 square feet upstairs bringing the appraisal to $455,000.

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

With my normal job being a 14/14 schedule, It gives me time to utilize my skills and invest sweat equity into a new build.

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

Found a vacant lot in an old neighborhood and negotiated a purchase price of 32k from 53k.

How did you finance this deal?

Traditional Mortgage

How did you add value to the deal?

Sweat Equity

What was the outcome?

Between 150 and 200k in instant equity

Lessons learned? Challenges?

There were a few projects that i took on such as foundation installation that cost time.