Making living space out of existing structure

[Paul Ruhle]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $250,000
Cash invested: $30,000

When I bought this house, it was a 3 bed 1 bath house with an attached garage. I was able to legally convert the garage into a master bedroom/bath and utility room.

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

I invest heavily in the South County area of RI.

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

The seller posted about possibly listing her house on an app. I contacted her and asked if she would be willing to sell off market.

How did you finance this deal?

conventional loan

How did you add value to the deal?

renovated garage into an extra bed and bath

What was the outcome?

A house that is worth approximately $400k now