My first Brrrr Real Estate Deal in Northern California
Investment Info:
Single-family residence buy & hold investment in El Cerrito.
Purchase price: $327,000
Cash invested: $45,000
Sale price: $875,000
this deal opened my eyes to massive shift towards real estate investing
What made you interested in investing in this type of deal?
I wanted to enjoy solid investment, great appreciation. I did not want to pay rent and watch money go into abyss.
How did you find this deal and how did you negotiate it?
through a real estate agent. I did negotiate the pricing little bit and was successful.
How did you finance this deal?
Normal bank financing, then refinanced it to get much better deal.
How did you add value to the deal?
remodeled the kitchen, remodeled one bedroom, new electrical, new paint, redesigned the backyard, front yard, and replaced traditional water heater with tankless to create more room.
What was the outcome?
great, as expected, if not even more.
Lessons learned? Challenges?
working with contractors, filing a lawsuit against one of them, finishing work on time and on budget with no overruns
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
no.