All Forum Posts by: Michael Lynch

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $210,000
Cash invested: $68,000
Sale price: $350,000

Re-configured several rooms in the house, created a room out of an old garage, created a bathroom out of a 3 season porch. Turned house from 2 bedroom 1.5 bath, to 3 bedroom, 2.5 bath. Took 4 months of my free time to finish, plus a couple of months for the town to inspect the new septic.

What made you interested in investing in this type of deal?

I enjoy working with my hands. Always wanted to test my skills as a craftsman.

Hi Rehan,

I agree with a couple of the other people posting. At least in this area, the speed of increases are slowing, but there is still a supply problem, that I don't see going away anytime soon. If you can work with the monthly payment today, history says that your interest rate will only go down over time (if you stay tuned in to the rates). You date your rate but marry the home.

 MA Housing is a great program, which allows you to put more money toward the principle. Just make sure you go in with your eyes wide open to the potential repairs a building may require. 

Mike Lynch