Single-family residence buy & hold investment in Lake Jackson.
Purchase price: $84,900
Cash invested: $12,000
Property has an ARV $140K.
Escrow Pmt: $950
Cashflow After Mgmt(self manage): $310
How did you find this deal and how did you negotiate it?
Found it from a wholesaler in a sub market of Houston.
Bid 5k under list price. Wholesaler asked if I could go 1k higher. I agreed.
At closing I could see the wholesaler was at our market's low 5k assignment fee.
How did you finance this deal?
Cash with a partner.
Refinanced in a conventional loan.
How did you add value to the deal?
18k of Rehab: New Roof, New HVAC, NEW Kitchen w/granite, New Bathroom, New Vinyl Laminate Flooring, general repainting, and exterior landscaping.
Lessons learned? Challenges?
It was a smoother remodel. Learned a little more about conventional lending and keeping the property in the LLC.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
You can contact me.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you