Reverse Mortgage REO SFR Buy and Hold

[Jennifer Goodier]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $740,000
Cash invested: $20,000

Purchased with ex and turned over in separation. This was a reverse mortgage REO. Great purchase. Turned out that there was more land than indicated after performance of survey.

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

Price and land.

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

Realtor listed REO

How did you finance this deal?

Primary residence loan

How did you add value to the deal?

remodeled inside

What was the outcome?

worth $185,000 in 2015