Updated over 6 years ago on . Most recent reply
Single Family House
Investment Info:
Single-family residence buy & hold investment in Pasadena.
Purchase price: $85,000
Cash invested: $28,000
Single Family Home that I bought, rehabbed, refinanced and rented out (brrr).
What made you interested in investing in this type of deal?
Working toward growing my portfolio.
How did you find this deal and how did you negotiate it?
Wholesale deal.
How did you finance this deal?
Purchase and rehab were financed with Hard Money and then note transferred to a thirty year mortgage.
How did you add value to the deal?
Added new roof, HVAC, granite kitchen and bath counters, wood vinyl flooring, interior and exterior paint. Also had to replace the breaker panel.
What was the outcome?
Able to offer a nice, clean, new house with all new appliances to a tenant.
Lessons learned? Challenges?
This was actually the very first single family home I did though I did this one and Robinson nearly at the same time. Learned who I can add to my team and who I can not. Learned ways I wanted my GC to communicate to me and how often.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Love my hard money lender.
