Investment Info:
Single-family residence fix & flip investment.
Purchase price: $100,000
Cash invested: $20,000
Sale price: $175,000
Bought the home to live in, rented out a room throughout time living there. Rented out entire house for 2016. Renovated and sold in 2017
What made you interested in investing in this type of deal?
Building equity in my personal home then renting it out. Bad renters led to renovation and sale
How did you find this deal and how did you negotiate it?
Zillow, real estate agent
How did you finance this deal?
VA loan
How did you add value to the deal?
Personally renovated the house including everything from flooring to exterior paint
What was the outcome?
Net profit of around 30,000 not including the rental income over the years.
Lessons learned? Challenges?
Vet renters much more. I will have a property manager to vet and find renters for me in the future.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No
