Remodeled 132 yr old floor
Investment Info:
Single-family residence buy & hold investment in Faribault.
Purchase price: $210,000
Remodeled the entire kitchen. New LVP flooring throughout main level. The 132 yr old floor needed serious leveling! Used plywood in certain areas where it was over 3" low and shimmed off the edges so we didn't have to use heaps of floor leveler. Relocated electrical panel from exterior wall to basement and upgraded to 200amp (Xcel Energy offers a $1500 rebate for the upgrade).
What made you interested in investing in this type of deal?
Exploring the Twin Cities Market as my other rental is in a town an hour away.
How did you find this deal and how did you negotiate it?
Running numbers on listings I found thru Zillow and making lots of offers.
How did you finance this deal?
Bank Loan.
Lessons learned? Challenges?
Old houses have lots of interesting challenges! Built in 1894.