Investment Info:
Single-family residence buy & hold investment.
Purchase price: $395,000
Cash invested: $40,000
Sale price: $720,000
Did a 80/10/10. mortgage. Lived in the house while updated the kitchen and windows, entrance and garage door.
What made you interested in investing in this type of deal?
Great school area for my children. Safe and beautiful neighborhood.
How did you find this deal and how did you negotiate it?
Thru the MLS and online search.
How did you finance this deal?
80/10/10 with a institutional lender.
How did you add value to the deal?
Tore old carpets exposing beautiful oak hardwood floors throughout the house. Painted with neutral colors. Did some tile work. Kitchen remodeled in exchange for renting a room
to two amazing contractors.
What was the outcome?
Multiple offers were coming but agent botched the process and I was forced to accept a lower offer.
Lessons learned? Challenges?
Tons. See above.
