Single-family residence buy & hold investment.
Purchase price: $42,000
Cash invested: $7,500
Split level house with 2 tenants
What made you interested in investing in this type of deal?
Ugly house on the market for a long time
How did you find this deal and how did you negotiate it?
Found it on Zillow, asking price was 47k, offered 52.1k cash as the competition was very fierce.
How did you add value to the deal?
Added 3 bed 1.5 bath and a kitchen to the house by finish the basement and garage.
What was the outcome?
The addition brings in additional $950 rental revenue to the property.
Lessons learned? Challenges?
Wished I know the market better and have more confidence to buy more.
Hi Po,, you thought it through, got ahead of competition on price by risking a little and got creative on space utilization to create real value. Very nice.
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