Updated about 5 years ago on . Most recent reply
Edinburg TX Investment
Investment Info:
Single-family residence buy & hold investment in Mcallen.
Purchase price: $38,149
Cash invested: $55,000
I purchased this via tax sale for cash after a little due diligence. Ended up with $55k in this property after the rehab that appraised for $175K and was rented within 3 weeks of completion for $895/mo I haven't pulled the money out of it yet (refinanced) because I haven't needed to, but I will fairly soon. I did the rehab in the middle of the COVID shut down and found another property while I was there by word of mouth that I have already closed on. This one needed a new roof (including framing, flooring throughout, plumbing, both baths remodeled, rewired all the electrical and several additional odds and ends like paint, trim, pointwork, a lid on the septic system etc.
How did you find this deal and how did you negotiate it?
Tax Foreclosure
How did you finance this deal?
Cash
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My favorite licensed real estate guy, me and my favorite Real Estate investor my wife.