1954 3/2 Ranch house with 600sf sunroom

[Travis Charlie]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $58,000
Cash invested: $500

1952 wood frame 2400sf (1800sf HVAC) 3/2 ranch house on 1 acre. Took a month off of work to make the home livable for my family. Added new appliances, ripped out carpet, new well, septic, and water heater. Lived in for 7 years slowly remodeling it on the side. Now looking to turn it into a BRRRR.

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

Foreclosure with ample room for added value as a rental of flip

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

foreclosure list at bank

How did you finance this deal?

15yr mortgage

How did you add value to the deal?

rehab

What was the outcome?

Lived in for 7 yrs now turning into a rental

Lessons learned? Challenges?

Living in a remodel is HORRIBLE! Way too much stress and you never leave work because you live in the middle of it.

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

purchased direct from the bank