Updated over 3 years ago on . Most recent reply
Converted 2 bed 1 bath to 3 bed 2 bath
Investment Info:
Single-family residence buy & hold investment in San Antonio.
Purchase price: $180,000
Cash invested: $50,000
Converting 400 square foot garage into a primary suite. From 2/1 to 3/2.
What made you interested in investing in this type of deal?
Location and forced appreciation
How did you find this deal and how did you negotiate it?
MLS deal and represented myself as my own agent.
How did you finance this deal?
Hard Money
How did you add value to the deal?
Converted garage to Primary Suite
What was the outcome?
Appraised value at 360k then refinanced to pull my investment out. Used excess profit to furnish for short term rental.
Lessons learned? Challenges?
Account for delays!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm my own agent.