Finally finished buy, rehab and rent.

5 Replies

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $18,500
Cash invested: $10,000

3/1/1 936 sq ft. Section 8 $700/mo.

What made you interested in investing in this type of deal?

Asked my mortgage broker about rental loans and he told me what he was doing.

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

Wife found as brand new listing on MLS. Slightly reduced offer price with new agent.

How did you finance this deal?

Cash

How did you add value to the deal?

Minor rehab. Already had new carpet / laminate flooring and interior / exterior paint. Repaired windows. All new lowers in kitchen. Everything brought up to HQS standards for section 8.

What was the outcome?

Passed first housing authority inspection. Renter moved in that day.

Lessons learned? Challenges?

Don't take so long to rehab (9 months : friend, contractor!).

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Billie Mills at FirsTitle, Broken Arrow. Fast, easy and professional.

Promotion
BiggerPockets
The one-stop-shop for REI
Find Local Home Improvement Pros!
Check out our network of trusted, local contractors for all of your home improvement projects.
Find a Contractor

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

We hate spam just as much as you