Updated about 3 years ago on . Most recent reply
Single Family Buy and hold
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $43,000
Cash invested: $20,000
4 BR single family unit
What made you interested in investing in this type of deal?
It was an abandoned house across from a friends house, I contacted the owners and got the home a month later.
How did you find this deal and how did you negotiate it?
I used the auditor website to contact owner. He wanted $50k and we settled at $43k.
How did you finance this deal?
Bank
How did you add value to the deal?
Gutted entire house, added drywall, windows, flooring, new kitchen, added a bathroom and re did the old one as well as tear down a few walls and a closet to make it bigger.
What was the outcome?
We lived in it for a couple years and is currently rented
Lessons learned? Challenges?
If you want something done right, you have to do it yourself. Especially on the budget I was on at the time.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Raya Hardy