I cash flow about $100 dollars a month and I have about $25,000 of equity in the property! I am sitting pretty on this deal! PMI gave me confidence to see the value in this deal where apparently other investors did not see it. Awesome!!!

This was a REO property listed on MLS. My real estate agent found this deal for me. This was an older house. The home has three bedrooms and one bathroom. It was listed at $74,000 and it did need some work done on it. I bought it for $62,000. The repaired value after fix up was about $96,000. I put about $8,000 of repairs into it to get it ready to rent.

After I got all the repairs done and got a tenant in the house I then refinanced with the repaired value and received the purchase and fix up money back plus I put about $2,000 back in my pocket!

I cash flow about $100 dollars a month and I have about $25,000 of equity in the property! I am sitting pretty on this deal! PMI gave me confidence to see the value in this deal where apparently other investors did not see it. Awesome!!!

Andrew M.