Buy and Hold/Longterm Remodel DIY

[Christopher Rogers]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $186,000
Cash invested: $20,000
Sale price: $255,000

This was a starter home for my wife and myself in which all work was done one project at a time all DIY/YouTube University

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

Like most people we couldn’t afford everything remodeled so we had the vision and passion to do it over time

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

Just your standard MLS with an agent deal.

How did you finance this deal?

FHA

How did you add value to the deal?

Sweat Equity. One project at a time with bonuses and any extra money.

What was the outcome?

This home had 7 offers within 24 hours and appraised around 20% higher than any similar homes because of our work done.

Lessons learned? Challenges?

There were a lot but one comes to mind. Demo floors yourself! It’s labor intensive but you’ll save about half your cost by doing it yourself with rented tools and buy on sale flooring.