VA Home Rehab Into Rental Property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $250,000
Cash invested: $75,000
Purchased property and then major rehab into a rental property.
What made you interested in investing in this type of deal?
Influenced by a relocation from the area due to work.
How did you find this deal and how did you negotiate it?
Worked with agent, contractors, bank and insurance company (to secure financing).
How did you finance this deal?
Real Estate Agent
How did you add value to the deal?
Major Rehab following Hurricane Irma.
What was the outcome?
Positive Cash Flow of $500/month.
Lessons learned? Challenges?
Don't over invest into rental properties - just satisfy the requirements to meet cash flow objectives.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Worked with banks and local contractors for Rehab.