Personal home- fixer upper

[Jillian Kemmerer]

Investment Info:

Single-family residence other investment.

Purchase price: $140,000
Cash invested: $60,000

Bought my first home with help of a cash investor - slowly improving - but last appriasal came back over 100K appreciated value. PLUS - we have an Airbnb space in the back of our house which we now have a long-term renter in.

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

Wanted a fixer-upper, knowing what I could do with it.
The Airbnb was an extra plus!

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

Scrounged the auction websites - and nagged the selling agent until we landed the deal!

How did you finance this deal?

I had a very generous partner/friend who fronted the cash, then we put all the reno on credit cards, then cash-out refinanced for a great low rate!

How did you add value to the deal?

We did EVERYTHING in the house - the kitchen, the lights, the doors - you name it!

What was the outcome?

We have a great house, and a great rental space as well!

Lessons learned? Challenges?

Everything will take twice as long as you hope it will!