Rental Property and Investment Property

[Beth Holland]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $245,000
Cash invested: $75,000

Purchase this home 2 years ago. Gutted it all the way to the studs. Opened up the concept, added marble kitchen and bathrooms. Now rent out.

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

Looking or extra cash flow and equity over time.

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

Found through agent friend. Sellers motivated due to need to move. Negotiated $10,000 less than asking.

How did you finance this deal?

$75,000 down. Mortgage the rest.

How did you add value to the deal?

Updated home, all brand new electric, insulation, flooring, counters, counter tops, bathrooms. Reconfigured the layout to more open concept.

What was the outcome?

Great home, great neighborhood. Making money.

Lessons learned? Challenges?

Feel I put a little too much into the Reno .