A quick look at our first deal ever!

[Jack Reipke]

Investment Info:

Single-family residence buy & hold investment in Minneapolis.

Purchase price: $250,000
Cash invested: $50,000

My wife and I bought this home in September, 2017. We lived here for two years, renovated the entire inside in addition to adding a bedroom and bathroom to the unfinished 1/2 story. We have long-term tenants in now and will continue to rent this moving forward!

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

We are handy and did not have the money to buy anything @ 20%. It made sense to do a live-in flip for us.

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

MLS

How did you finance this deal?

Conventional Financing

How did you add value to the deal?

Renovated the entire interior and added a bed/bath to the 1/2 story.

What was the outcome?

Full-time tenants and $850/mo. in cash flow.

Lessons learned? Challenges?

Renovations