Investment Info:
Single-family residence other investment.
Purchase price: $117,500
Cash invested: $25,000
Sale price: $125,000
We are renting out this home on AirBNB as well as Furnished Finders for traveling nurses. We just launched in July 2022.
What made you interested in investing in this type of deal?
I have always wanted to do real estate. I owned this home and after I got married, I relocated to Georgia. We decided to fix up the property and dive into real estate!
How did you find this deal and how did you negotiate it?
Purchased the home from my mother.
How did you finance this deal?
Conventional financing, 5% down.
How did you add value to the deal?
We put in new floors, and painted, and decorated the home.
What was the outcome?
The house is beautiful! So far we are making about $1500 profit per month on the home after expenses are paid.
Lessons learned? Challenges?
Our biggest regret is taking so long to get the house listed. It sat for a year while we built a home in Georgia, so we wasted so much time and money dragging our heels on getting it going!
