Investment Info:
Single-family residence buy & hold investment in Charlotte.
Purchase price: $82,000
Cash invested: $25,000
Sale price: $135,000
I purchased this home in 2010 during the recession on foreclosure. I fixed it up myself and with some help. I lived in it, then I rented it out, then I sold it. It was great, just not the right way to do certain things.
What made you interested in investing in this type of deal?
Passive income and learning about real estate investing.
How did you find this deal and how did you negotiate it?
I found it myself, maybe thru some websites, and did the deal with a realtor.
How did you finance this deal?
mortgage
How did you add value to the deal?
By living there, there was an incentive, and I didn't have to pay capital gains once I sold it after a few years.
What was the outcome?
Awesome learning experience and some money
Lessons learned? Challenges?
Hire professionals to do their specialties. Even property management to rent it out.
