Latest buy & hold: Rehab complete and property leased

Latest buy & hold: Rehab complete and property leased

Investor · Houston, TX · Member since 2015 · 12 posts · 17 votes

Specifics:

SFH, 2/1, ~1000 sq. ft.

Purchase price: $30k (cash)

Rehab: $22k (includes $3.5k foundation repair)

Length of rehab: 4 weeks

Currently leased at $1k/month, 24 month lease in place

C-class neighborhood

Notables: Property had recent water heater (2014), 30 year roof (2008), automatic garage door (2012), gas range (2005) and HVAC (2004) already in place. This project was completed without a GC; I project-managed the process in its entirety, hiring all trades-persons and purchasing all materials. I ran into no major issues during the rehab process. With the help of my realtor, the property was leased in roughly 5 weeks from the date of availability. I've included a few pictures. Thank you, my BP peers, for knowingly and unknowingly providing consult along the way.

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Bellevue, NE · Member since 2015 · 134 posts · 28 votes
10y

It looks great @Anthony Washington !

I especially like the shower tile. Congratulations!

What's next for you?

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  • Bellevue, NE · Member since 2015 · 134 posts · 28 votes
    10y

    It looks great @Anthony Washington !

    I especially like the shower tile. Congratulations!

    What's next for you?

  • Investor · Houston, TX · Member since 2015 · 12 posts · 17 votes
    10y

    Thanks, @Matthew Swisshelm! I'm currently looking for my next project, likely a 4-unit multifamily.

  • Bellevue, NE · Member since 2015 · 134 posts · 28 votes
    10y

    Good luck! If you handle it just like that last one it looks like you are going to kill it.

  • Edmond, OK · Member since 2015 · 16 posts · 6 votes
    10y

    Congrats. I can't get my contractors to finish anything in a timely manner. Maybe I need to find new ones? How did you get it all done in 5 weeks? 

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