Cash purchase with a quick refi

[Patrick Bergeron]

I’m buying a house for cash from a tired landlord that’s at least 20% under comps in the area. It has a tenant in place (13 years) and needs a new roof. I’m looking to use the delayed financing exemption in order to pull as much money out immediately and recycle my capital.

My goal is to keep this tenant in place for as long as possible, so I’m looking for some ideas to bring the value of the property up prior to appraisal while keeping the tenant in place.

In addition to the roof, does anyone have any suggestions on light rehab ideas that could bring the value of without disturbing the tenant too much?