Updated about 13 hours ago on .
DSS Housing 1
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $325,000
I purchased this as a shell for 325k in 2023 with hard money total of about 355k all in at closing, I put around 200k in a total interior renovation. It needed everything it was gutted to the studs. Electric, Plumbing, Septic, Hvac ,Layout alteration. Refi'd out 559k, After Holding and closing costs I was into the house for about 20k. I do DSS Emergency housing, so rents are pretty substantial averaging about 11k/mo. I pay utilties, Manager, Mortgage totaling 7k/mo.
What made you interested in investing in this type of deal?
The Cash flow but it is very active investment, Requires a lot of attention.
How did you find this deal and how did you negotiate it?
Network, I have been a contractor for years working with investors at this point.
How did you finance this deal?
Hard money into a 30 year fixed DSCR.
Lessons learned? Challenges?
Some things are better left to the professionals haha, I tried to do everything on my own with my own crew.