Renovation Project Northside Jacksonville

6 Replies

Investment Info:

Single-family residence buy & hold investment in Jacksonville.

Project managing a renovation of a property on the Northside of Jacksonville, Florida for an investor in Northern Virginia. It was a 2/1 and we have made it a 2/2, by converting an old closet to a bathroom. It has been replumbed and the electric has been upgraded. Both bathrooms will be tile and modern We are going to install white shaker cabinets and stainless appliances. It is an older house and the drywall needed a skim coat. The inside will be painted Agreeable Gray.

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

Helping another investor out by renovating a house

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

Met other investor on BP

How did you add value to the deal?

Added a bathroom
Upgraded and updated all systems in the house.
electric
Plumb
A/C
Roof
Cosmetic Paint and Flooring
Bathrooms
Kitchen

ARV should be stellar

What was the outcome?

Just about finished and looking good!

Lessons learned? Challenges?

The virus has S L O W E D down my contracotrs

Originally posted by @Jonathan Alcindor :

Hey just curious what were the acquisition price and expected APR and rental amounts?

Purchased 28

Reno currently at 31, plan to stay under 40.

ARV. - Who knows? When I started, we were looking to get to 90-100.

At $100k ARV and a 75% loan, all the investment could be pulled out. Who knows what will happen now.

 

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