First home remodel and resold

[Brad Sneckner]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $200,000
Cash invested: $60,000
Sale price: $325,000

First home purchase, bought as a primary residence and completely rehabbed, to then sold a little over two years later with no capital gains tax.

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

It was a way to get my feet wet with rehab projects while not having the pressure of time, and being able to learn some of the trades myself to familiarize myself with the process, costs, and challenges of various aspects of the rehab.

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

Found it on the MLS, standard sale.

How did you finance this deal?

Conventional financing.