Buying an investment property is not the same as buying the home you will live in. As a real estate investor, although you own both properties, each one serves a different purpose from the other. As a result of those differences, the parameters you use when buying your home should be completely different from the…
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This project was managed virtually from the main office in Denver, and run through the Missouri branch of GSP. The property was acquired via a wholesaler. The intention for the deal was to fix and flip the home. The budget expanded greatly during the rehab. This prevented us from being able to aggresively cut the…
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Financials Purchase Price: $230,000 Down Payment (5%): Grant for $11,700 Closing Costs: $2,000 + $4,000 (appraisal contingency) Out of Pocket Acquisition Costs: $6,000 Rehab and Tool Costs: $10,000 Refinance Costs ($237,000 @ 3.75% for 30 years): -$2,000 Mortgage, Utility and Insurance Costs during Rehab: $0 (rented out rooms during rehab to cover cost) After Repair…
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