No Money Down Real Estate Investing Course
Learn How To Buy Income Properties Without Risk, Good
Credit, Money Or Tenants!

Click here for more information
 
Welcome, Unregistered.
User Name
Password
Forum Links
Site Navigation
Real Estate Resources
Go Back   Real Estate Investing > Real Estate General > Real Estate Success Stories And REI Interviews
Reply
   
 
Thread Tools Search this Thread Display Modes
  #1  
Old 08-21-2006, 06:01 PM
r8rpwr
Guest
 
Posts: n/a
Default Success story.

This is a small success story, but it makes me happy.

12 years ago I bought a duplex. I lived in one side and rented the other. This began my foray into the world of real estate investing.

The house has nearly tripled in value since I bought it. No, I'm not selling soon. I'd rather hold it and collect rent. We are at the point of having a very nice cash flow now.
Reply With Quote
  #2  
Old 08-21-2006, 06:08 PM
sub-zero
Guest
 
Posts: n/a
Default

I had a similar situation. We re-fied the house a couple of years ago and used it to buy 2 more houses. Hold onto it, would be my advise. That is a wise investment.
Reply With Quote
  #3  
Old 08-22-2006, 09:33 AM
r8rpwr
Guest
 
Posts: n/a
Default

I have another story, while it is not a huge or mind blowing success, we learned a lot from it and built some equity as well so that is a success in my mind.

We bought a house in foreclosure for about $80K. After $25K or so in repairs, much of which we did ourselves and which took several months, we refinanced it for $135K. Appraisal was about $175K. So, assuming we can sell it for something approximating the appraisal value, we'll make a nice profit.

I know the general advice is to contract out these repairs, and ordinarily that's what I would do, but in this situation with its being our first major rehab, we felt it was best to do much of the work ourselves so we would truly understand the nature of it. I think this was the way to handle things in this situation, and in the future we may hire out more of it. We gained a lot of invaluable skills during this experience.
Reply With Quote
  #4  
Old 09-05-2006, 04:35 PM
1031store
Guest
 
Posts: n/a
Default

Nice congrats r8rpwr... i'm in the midst of starting to look at some investments myself... hope to have the same luck.
Reply With Quote
  #5  
Old 09-18-2006, 07:13 AM
barbiedoll1973_tn
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by r8rpwr
I have another story, while it is not a huge or mind blowing success, we learned a lot from it and built some equity as well so that is a success in my mind.

We bought a house in foreclosure for about $80K. After $25K or so in repairs, much of which we did ourselves and which took several months, we refinanced it for $135K. Appraisal was about $175K. So, assuming we can sell it for something approximating the appraisal value, we'll make a nice profit.

I know the general advice is to contract out these repairs, and ordinarily that's what I would do, but in this situation with its being our first major rehab, we felt it was best to do much of the work ourselves so we would truly understand the nature of it. I think this was the way to handle things in this situation, and in the future we may hire out more of it. We gained a lot of invaluable skills during this experience.




Great find I hope that I can find one like this I hope that you sell it really fast and for the Appraisal price.
Reply With Quote
  #6  
Old 07-05-2013, 09:27 PM
Jessie Pearl Jessie Pearl is offline
Junior Member
 
Join Date: Jul 2013
Posts: 10
Thumbs up

hi dude

Its an awesome Investment,I hope that you will be very much Happiest Man in the real world

Hold it until you get a good price for your Valuable property
__________________
rent to own home
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump



All times are GMT -8. The time now is 12:39 AM.


Powered by: vBulletin Version 3.0.8
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 2.4.0
Copyright 2001 - 2006, Buy Income Properties, Inc. All Rights Reserved. Privacy Policy in Observance.