House Hacking / Minor Flip

[John Burkholder]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $100,000
Cash invested: $40,000
Sale price: $186,000

House hacking / flipping. Purchased a set of fixer uppers on Ohio River waterfront, both for $100k. Purchase included two homes: one, a manufactured 3 bed / 3 bath a-frame cabin placed on property in 2005 which would serve as my wife and I's primary residence for 5 years and the second, the original 2 bed / 1 bath home on the parcel since the 1920s. Sold off the 2 bed home for $43k to another investor. Spent around $40k on the 3 Bed home to fix foundation issues and replace roof as well as other updates while we resided in home. Sold this home for $143,000.

How did you finance this deal?

Local lender / conventional 15 year loan