Updated over 4 years ago on .
3 Bed/ 2 Bath Rehab- Value Add Extra Bedroom
Investment Info:
Single-family residence buy & hold investment in Sparta.
Purchase price: $210,000
Sale price: $355,000
Our first project was a 3 bedroom/3 bath bi-level with extensive HVAC issues due to late winterization by the bank. This property got a full cosmetic rehab and a new furnace. We also added an extra bedroom on the lower level which was a great value-add. Property sold at $5,000 over list price.
What made you interested in investing in this type of deal?
This was my company first rehab. It seemed like a great opportunity to focus on an area that I knew well so I could be there throughout the process.
It was originally a 2 bed/ 2 bath that we saw an opportunity with extra living space to convert to a 3 bed/ 2 bath. This sold the deal for me.
How did you find this deal and how did you negotiate it?
This deal was sourced traditionally though the MLS.
How did you finance this deal?
Conventional Loan
How did you add value to the deal?
Adding the extra bedroom. Full interior and exterior renovation.
What was the outcome?
Sold $5,000 over asking price with limited time on the market!
