Old Louisiana Home Turned Rental

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000
Cash invested: $30,000

3/2 with 2 unheated bonus rooms attached, turned into a 4-2 with the second unheated bonus room turned into a master bathroom.

What made you interested in investing in this type of deal?

One of the cheapest homes on the black, well under market value. With renovations, should be valued near $150K and should pull in higher quality tenants / good cashflow.

How did you find this deal and how did you negotiate it?

Driving for dollars, saw the sign out front. Contacted the sellers agent who was motivated to sell along with the seller.

How did you finance this deal?

25% cash down at closing, with a loan @ 4.5%

How did you add value to the deal?

Remodeled the interior, turned the bonuses into heated/air-conditioned bedroom and master bathroom.

What was the outcome?

In progress.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Greg Tripp - Home Inspector, Bossier City, LA