Investment Info:
Single-family residence buy & hold investment.
Purchase price: $210,000
Divided the lot that our previous home was located on using HPR. Hired a contractor to build an investment property on the newly divided lot. Sold the original dwelling and kept the new build as a rental property.
What made you interested in investing in this type of deal?
Unusual opportunity
How did you find this deal and how did you negotiate it?
N/A
How did you finance this deal?
Traditional mortgage
How did you add value to the deal?
We bought the original lot at an inexpensive price before the area became popular. Once it became popular, all the old homes were torn down and two homes were built in their place. Since our home was the first new build, we recognized the opportunity we had and decided to take action.
What was the outcome?
We currently have over $100K in equity on the property and we are cash flowing $600 a month.
