First Live in Flip / House Hack

[Patrick Vaessen]

Investment Info:

Single-family residence fix & flip investment in Sheboygan.

Purchase price: $35,000
Cash invested: $20,000
Sale price: $99,000

Purchased this home at 19 years old, lived in it for 3 years while house hacking and fixing it up. Sold for a profit and purchased a 4 plex to live in.

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

Needed a place to live and did not want to rent

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

Was a bank owned REO, offered over ask price while competing against other

How did you finance this deal?

Local Credit Union

How did you add value to the deal?

Complete Reno

What was the outcome?

Beautiful finished home, sold for a profit.

Lessons learned? Challenges?

This property made me realize that real estate is something I want to do for the rest of my life