Grow with your investments

[Jacob Abraham Vreeken]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $111,000
Cash invested: $125,000
Sale price: $270,000

Purchased and house hacked my first family home. Paid off loan in 3 years and rented the next 3 years. Invested in renovations and listed to sell at the end of September 2021.

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

Everyone needs to start somewhere and for some it might be starting where you live. I was young and had enough money to find a good deal and stop renting. I knew that we could make our home marketable and use it as we grew our family into something better. We used it as an investment and rental over the last three years which allowed us to fund our next deal.

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

About 6 months work of looking for short-sale and pre-foreclosure with a specialized Real Estate Agent. We used a personal letter and a strong offer to keep it clean and make it memorable.

How did you finance this deal?

we did a 15 year conventional with money we had saved up for a down-payment. We aggressively attacked the monthly payments with extra principle and paid off the 86k loan in 3.5 years.

How did you add value to the deal?

We renovated the floors, kitchen, paint, and cosmetics with new carpet for pre-sale.

What was the outcome?

Under contract