First finished property in 2019

[David Roe]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $42,800
Cash invested: $59,000
Sale price: $105,000

Couldn't be happier with this house, it's rented out for $950 a month it appraised for $105,000 and I only had $59,000 total into it. Did a BRRRR and pulled 79,000 refi out of it made a profit and now have a free rental...

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

I like money

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

It was on the MLS for a long time, they just wanted out of it.

How did you finance this deal?

Personal loan

How did you add value to the deal?

Rehabed the whole house

What was the outcome?

950 a month rent and appraised for $105k.

Lessons learned? Challenges?

First contractor I had to let go, just needed a better vetting process for who I hired

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

Jenifer Vogal from Irongate