5th Ward Single Family Rental

[Adam D Rinehart]

Investment Info:

Single-family residence buy & hold investment in Houston.

Purchase price: $87,000
Cash invested: $25,000

Currently under renovation to go from a 2/1.5 to a 2/2 to rent out for $1,150/month. ARV estimated to be $145,000 once renovation completed. Will be included in a blanket cash-out refinance of my first 3 properties set to close next month.

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

Underserved housing market in a redeveloping neighborhood.

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

MLS

How did you finance this deal?

Traditional mortgage

How did you add value to the deal?

Added 2nd bathroom, installed Central HVAC in lieu of window units, upgraded interior material quality.

What was the outcome?

Work in progress