My first home and 12 years later

[Mike Elwell]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $175,000

First Primary residence- House hacked and renovated. Currently rented.

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

The neighborhood was great and affordable this house had good bones and a ton of square footage.

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

MLS REO.

How did you finance this deal?

5% down primary residence.

How did you add value to the deal?

I learned how to do a lot of cosmetic updating. Replaced 1980s pergo floors, freshly painted everything, added trim and mouldings. Countertops and cabinet hardware go a long way and pair well with stainless steel appliances. Oh yeah and had to deal with a roof collapse and insurance completely rebuilding the roof.