Historic Frisco House
Investment Info:
Single-family residence fix & flip investment in Frisco.
Purchase price: $300,000
Cash invested: $350,000
House predates Frisco when it was originally called Emerson. Built in 1902 by Dr Rogers who became the first Mayor of Frisco in 1908. A lot of work on this one. Foundations right to the roof. Everything is being fixed and repaired. Pictures are work in progress. Hopefully complete in March/April
What made you interested in investing in this type of deal?
Really enjoy working these historic properties. Old homes in this area go for a premium
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
50% hard money. the rest was Self directed IRA
How did you add value to the deal?
Had to fix everything. In anther 5 years the house would have been demoed as unsafe.
What was the outcome?
Still working it.
Lessons learned? Challenges?
Make sure you double contingency fund on these old ones
