Out of state Primary turned rental

[Heidi Rechek]

Investment Info:

Single-family residence other investment in Beaver Dam.

Purchase price: $75,000
Sale price: $131,500

primary residence for 7 years , then turned rental. Finally sold to renter after 13 years

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

we were moving out of state and couldn't sell the home in designated amount of time.

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

place an add, wrote a land contract

How did you finance this deal?

primary mortgage, didn't refinance as investment until 2015 (rental from 2008-2020)

How did you add value to the deal?

finished basement, covid appreciated housing market

What was the outcome?

good returns

Lessons learned? Challenges?

improvements/fixes from states away was a challenge