1st Investment Property
Investment Info:
Single-family residence fix & flip investment in Kingwood.
Purchase price: $199,900
Cash invested: $32,000
Cutting teeth on 1st investment. Estimated ARV via comps $325,000.00
Property appraised at $370,000.00
Rehab underway, estimated completion mid-march.
What made you interested in investing in this type of deal?
Conducted market research revealing best mix of neighborhoods, sq footage, days on market, rehab costs
How did you find this deal and how did you negotiate it?
Networking with brokers and contractors. I also partnered with local bank for listings. Ultimately this deal came via a broker.
How did you finance this deal?
Private lender, Heloc
How did you add value to the deal?
Forcing appreciation thru renovations/upgrades
What was the outcome?
TBD
Lessons learned? Challenges?
House needed foundation leveling which caused considerable cosmetic damage when completed.
