White Ranch Single Family House

[Carini Rochester]

Enlarge the opening.

I bought a three bedroom house at Auction.com site. It was in pretty good shape. Its definitely a risk to buy without getting inside. 

I painted interior and exterior. Enlarged an opening between the kitchen and family room. Installed new flooring in kitchen and family room. New roof. New furnace.

I put it on the market as a flip, but the offers were too low. I could have broke even by selling. 

I rented it out. Its a nice, cash-flowing property.

I refinanced, got my money out and its been making money ever since.

Purchase price: 62,000

Fix-up costs:   16,000

Was able to refi 0.75x 80,000 = 60,000 mortgage. I also took 18,000 with a HELOC from my own residence.

The property is in Greece, NY