SFH (3BD 1 BATH) in c- neighborhood in Memphis

1 Reply

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $36,000
Cash invested: $36,000

SFH in c minus neighborhood. Stone exterior. Fully rehabbed interior.

How did you find this deal and how did you negotiate it?

a friend introduced me to his contractor he's used previously. He fully rehabs sf residences and sales them. Sounds like typical turnkey but the difference is the trust I had in the person over a 6 month period before actually purchasing the property.

How did you finance this deal?

cash

How did you add value to the deal?

I've worked on the exterior (driveway, windows, door etc.) and interior was fully rehabbed prior to purchase.

Lessons learned? Challenges?

so many struggles with the PM. That has been my single most frustrating experience over the last year. Every time I turned around I was getting charged ridiculous fees for repairs I never authorized. it took 9 months to get the house cash flowing properly.

Sounds like the home might not have been renovated to the quality needed.  Doing it on your own is possible as you stated but also sounded like a headache. 

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