Family Home turned into investment opportunity.

[Rachel Sharp]

Investment Info:

Single-family residence other investment.

Purchase price: $112,000
Cash invested: $10,000
Sale price: $179,000

Lived in for years, then rented it for 3 years, then fixed and flipped. Rented $1400/month. Had a mortgage balance of $35,000 when I sold at $179,000

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

Worked with a family member to sell the property and fix for a profit.

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

It was not purchased as an investment property but used it and treated it as an investment property when family members purchased another resident home out of state.

How did you finance this deal?

Family Home, then decided to rent while purchasing another home out of state.