Manhattan, Kansas Single Family Rehab

Manhattan, Kansas Single Family Rehab

Realtor · Manhattan, KS · Member since 2021 · 62 posts · 54 votes

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $105,000
Cash invested: $75,000

Whole house rehab on this one! $180,000 all-in, and it's now rented for $1,900/month.

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

One of my clients brought it to me.

How did you finance this deal?

Cash

How did you add value to the deal?

Rehabbed entire house

What was the outcome?

High-end rental producing premium rent

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

I was the agent on the deal.

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  • Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
    4y

    Congratulations on the BRRR deal, @Jefferson Simmons!  

    What are your next steps on this property?   What will you do next?

  • Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
    4y

    Is the Little Apple a good student rental market?

  • Realtor · Manhattan, KS · Member since 2021 · 62 posts · 54 votes
    4y
    Originally posted by @Will Fraser:

    Congratulations on the BRRR deal, @Jefferson Simmons!  

    What are your next steps on this property?   What will you do next?

    Thanks, Will! I plan to hold it as a part of my portfolio for the next couple years. I am actively growing and improving my properties along the way. Hoping to sell the entire portfolio to a big buyer and 1031 into a triple net commercial property or possibly some high-end short term rentals. 

  • Realtor · Manhattan, KS · Member since 2021 · 62 posts · 54 votes
    4y
    Originally posted by @Michael Noto:

    Is the Little Apple a good student rental market?

     Hey Michael! I have been in this market for the last 5 years and almost all of my properties are rented by students. With the exception of properties that are under active rehabs, I have never had a vacancy across 22 units. The homes here are very affordable too, which makes it a nice entry-level market.

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