Updated almost 3 years ago on . Most recent reply
One of my most recent projects that I love
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $550,000
Cash invested: $400,000
Introducing Historic Oldtown: A captivating Victorian estate in downtown Rockwall. Immerse yourself in the timeless charm and modern luxury of this beautifully restored property. With its vibrant sunroom, high-end fixtures, and prime location near local bars and restaurants, it's the perfect blend of historic elegance and contemporary comforts. Join me in celebrating Rockwall's rich heritage at this remarkable historical gem.
What made you interested in investing in this type of deal?
I am proud of my hometown, and wanted to take on one of the most challenging properties in the City.
How did you find this deal and how did you negotiate it?
The seller called me off a yard sign at another home I was renovating.
How did you finance this deal?
I used a private lender and cash.
How did you add value to the deal?
We spent over $300,000 remodeling this property.
What was the outcome?
We're receiving more than $8,000 per month as a short term rental, and the community is very proud of what we've done.
Lessons learned? Challenges?
Historic homes are hard, and the historic board on this one was extra difficult.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
This was my internal team.
