NJ Buy, Renovate, Refinance, Rent

[Madelyn Melloy]

Investment Info:

Single-family residence buy & hold investment.

Bought a foreclosure in Neptune City, NJ with spouse. Renovated interior and it's currently a rental property. Bought property with cash. Later on took out a HELOC for cash flow.

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

Great location, spouse works in construction, I have background in construction.

How did you finance this deal?

Cash from family member, then took out a mortgage to pay back

How did you add value to the deal?

Bought house for 176k, house appraised for 340k after renovations