At least as far as individual deals go (versus large purchases), this was probably our best deal ever. I give the rundown on how we found it, analyzed it, rehabbed and then refinanced it. We purchased it for $28,250 and after the rehab, were all into it for just under $44,000. In the end,
"The property ended up appraising for $106,000, and so we were actually able to pull out about $30,000 upon refinance! In total, our equity was about $63,000."
I also discuss how we split properties into three general categories and try to buy a mix to create a balanced portfolio,
- Equity Deals
- Value Deals
- Cash Flow Deals
Check it out.
"Every day is a new life to the wise man."
The Righteous Mind
Star Slate Codex
Consulting by RPM