1002 Valerie Ct

[Randall Brooks]

Investment Info:

Single-family residence buy & hold investment in Moscow.

Purchase price: $219,000
Cash invested: $219,000

Found another dump in a great location. Purchased in cash far below listing price. I'll be doing an extensive full gut remodel which will include an expansion of living space by doing a partial garage conversion making this 2 bed 2 bath SFH a 3 bed 3 bath SFH, adding about 300sq feet of living space. This will eventually become another STR for us. With this house being bought in full the plan is to get a HELOC or HEL to purchase another property when finished.

What made you interested in investing in this type of deal?

As a GC, able to perform all the work myself, I saw massive value add potential with this property. We sent an all cash offer for far below listing which was accepted.

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

MLS

How did you finance this deal?

Paid in "cash" using funds from a HELOC obtained on a previously rehabbed property.

How did you add value to the deal?

I will be doing a complete gut, demo to studs to include replacing the floors. I'll be doing a partial garage conversion and will add a bedroom, bathroom, and large laundry/storage room which will increase the living space about 300 sq ft.

What was the outcome?

Just starting

Lessons learned? Challenges?

Cash is fast.

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

Yes. Traci Hacker owner of At Home Real Estate