4th New Property Acquisition

4th New Property Acquisition

Adam GardnerPro Member
Investor · Ladson, SC · Member since 2022 · 8 posts · 13 votes

I’m grateful and excited to share that I recently acquired another investment property: 1616 S Memorial Drive in Racine, Wisconsin.

This property represents much more to me than another real estate transaction. It is another step toward building generational wealth, creating long-term security for my family, and achieving financial freedom through real estate.

I purchased this 2-bedroom, 1-bath single-family home for $65,000 cash. The property has approximately 1,026 square feet, and I plan to invest around $20,000 into a rental-grade renovation.

Projected deal numbers:

  • Purchase price: $65,000

  • Renovation budget: $20,000

  • Total projected investment: $85,000

  • Estimated after-repair value: $180,000

  • Potential equity created: $95,000

  • Total investment: approximately 47% of the projected ARV

The plan is to renovate the property, place a qualified tenant, refinance it into long-term financing, and recycle the recovered capital into another investment.

If the property appraises for $180,000, a theoretical refinance at 75% loan-to-value would be approximately $135,000. That could allow me to recover my original $85,000 investment and potentially access additional capital before refinancing expenses, depending on the final appraisal and lender requirements.

I’m extremely grateful for the opportunity to keep growing. Every property teaches me something new and brings me closer to my larger vision. The journey has required sacrifice, patience, discipline, and the willingness to keep moving forward even when everything wasn’t perfect.

I’m not at financial freedom yet, but I’m on my way—and this property is another important piece of that journey.

The goal is bigger than owning houses. It is about building lasting income, creating options for my family, and eventually gaining control over my time.

One property at a time. One smart decision at a time. One step closer to financial freedom.

I’m thankful for the progress, excited about what comes next, and ready to get this renovation started.

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Rebecca KnoxBusiness Member
Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
3w

Congratulations Adam! We recently closed on an SFR on Main Street across from the lakefront at 107500. It needed a full rehab too. I would love to connect with you further if you are investing in Racine too.

Captain Save-A-Home LLC
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  • Rebecca KnoxBusiness Member
    Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
    3w

    Congratulations Adam! We recently closed on an SFR on Main Street across from the lakefront at 107500. It needed a full rehab too. I would love to connect with you further if you are investing in Racine too.

    Captain Save-A-Home LLC
  • Harry B.Pro Member
    Lender · New York, NY · Member since 2026 · 71 posts · 22 votes
    2w

    I love to see new investors excited about their goals. When will you make the next leap into multifam?

  • Ishani PatelPro Member
    New to Real Estate · Elgin Illinois · Member since 2026 · 1 post · 0 votes
    3d

    Hey - New investor here...would $20K be sufficient investment though even for a rent grade flip?

  • Livonia, Wayne County · Member since 2026 · 6 posts · 4 votes
    1d

    This is awesome, congratulations! Financial freedom, generational wealth, taking control of your life and time are the exact reasons I’m getting into this space and I’m always looking for these types of stories and testimonials. Gonna follow along to see where this journey takes you!

  • Investor · Monroe NY · Member since 2023 · 17 posts · 5 votes
    1d

    Huge congratulations on this, Adam! I checked out the immediate area and it's impressive you were able to find a property priced that low.

    Out of curiosity, what drew you to this pocket of Racine, and did you use a realtor or a wholesaler? With rents pushing $1,500+, this is an incredible BRRRR. Thanks for sharing your success—keep it up

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