Breakdown of a $30k Rental Purchase: Renovation [Video!]

Breakdown of a $30k Rental Purchase: Renovation [Video!]

1 min read
Sterling White

Sterling White is a multifamily investor, specializing in value-add apartments in Indianapolis and other Midwestern markets. With just under a decade of experience in the real estate industry, Sterling was involved with the management of over $10MM in capital, which is deployed across a $18.9MM real estate portfolio made up of multifamily apartments. Through the company he founded, Sonder Investment Group, he owns just under 400 units.

Experience
Sterling is a seasoned real estate investor, philanthropist, speaker, host, mentor, and former world record attemptee, who was born and raised in Indianapolis. He is the author of the renowned book From Zero to 400 Units and the host of a phenomenal podcast, which hit the No. 1 spot on The Real Estate Experience Podcast‘s list of best shows in the investing category.

Living and breathing real estate since 2009, Sterling currently owns multiple businesses related to real estate, including Sterling White Enterprises, Sonder Investment Group, and other investment partnerships. Throughout the span of a decade, he has contributed to helping others become successful in the real estate industry. In addition, he has been directly involved with both buying and selling over 100 single family homes.

Sterling’s primary specialities include sales, marketing, crowdfunding, buy and hold investing, investment properties, and many more.

He was featured on the BiggerPockets Podcast episode #308 and has been contributing content to BiggerPockets since 2014, with over 200 posts on topics ranging from single family investing and apartment investing to mindset and scaling a business online. He has been featured on multiple other podcasts, too.

When he isn’t immersed in the real world, Sterling likes reading motivational books, including Maverick Mindset by Doug Hall, As a Man Thinketh by James Allen, and Sell or Be Sold by Grant Cardone.

As a thrill-seeker with an evident fear of heights, he somehow managed to jump off of a 65-foot cliff into deep water without flinching. (Okay, maybe a little bit…) Sterling is also an avid kale-eating traveller, but nothing is more important to him than family. His unusual habit is bird-watching, which he discovered he truly enjoyed during an Ornithology class from his college days.

Education
Sterling attended the University of Indianapolis.

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SterlingWhite.info

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The good news is there were no surprises during the rehab process. The renovation is almost complete, and there are only a few items that need to be finalized.

If you haven’t already seen the pre-renovation stages, that video can be viewed here. I recommend checking it out.

Breakdown of a $30k Rental Purchase: Renovation Stage

Team

Without our hard working team, this process would not have gone so smoothly. Our construction manager oversaw the rehab crews on the project to ensure everything ran according to schedule. In the event you have a solid crew, be good to them. They can be hard to come by, so when you find a good one, hold onto them tightly.

Related: Case Study: Why $30k Real Estate CAN Be Profitable [With Pictures & Numbers!]

Rehab

The scope of the work given to the contractor can be found here.

Conclusion

After the final punch out items are completed, the all-in will be under $40k. This property will be in leasing soon at $675k; however, it is also possible that it will go directly to a homeowner due to recent activity in the immediate location. The decision will be made soon.

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Any questions or comments about the renovation of this deal?

Leave them below!

The good news is there were no surprises during the rehab process. The renovation is almost complete, and only a few items need to be finalized.