The summer of 2019 I was on the hunt for my first house. I had recently moved to the Athens area, and the thought was to be paying money down on a house rather than paying rent. I knew the area I wanted to be in because I had seen how the area was growing and would only appreciate with time, but I could not seem to find anything at a ‘decent’ price. 

Finally, I decided to look at this house that had been on the market for a while, and see how much work it needed.  I am really not sure what I initially saw in the house, but I knew I could put in the work and create some equity.

My wife and I started demo on the yard before we even closed, and we worked on the house everyday once we moved in. 

A year or so went by and we needed to move due to my wife’s new job opportunity. We posted the house for rent and within 24 hours we had a tenant lined up to move in. 

We, then, refinanced the house and pulled out some cash (and got in on the sub 3% interest rates). We were making +$800 per month with this house, and were still able to pull out cash to buy our new primary residence. 

With the appreciation and equity we created, we still had money ‘tied up’ in the house, so we decided to sell and do something bigger with our money. 

There are opportunities like these out there, but it does take patience and determination to find them. Reach out to Massey Brokerage LLC, and let’s write you a story like this.