Investment Info:

Single-family residence buy & hold investment.

Purchase price: $105,000
Cash invested: $120,000

3 bd 1 ba, 864sf sfh currently under lease. ARV is $164,900.

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

It's a small, rural market with a need for mid to long-term rentals and inventory available.

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

We found online and used a realtor to negotiate the purchase.

How did you finance this deal?

We paid cash to purchase and used a bridge loan for the renovations.

How did you add value to the deal?

We completed renovations and self-performed things like yard cleanup, painting and cleaning to keep our renovations costs down.

What was the outcome?

We added approx, $45k in value to the home after renovations and received top end rent immediately upon posting availability.

Lessons learned? Challenges?

Self performing took longer than anticipated. Not many unexpected costs. We did go slightly over budget on a couple of items, but saved it on buying some items at discount.

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

Real Estate Agent, Valarie Lake.