403 McBaine Avenue Columbia MO

[Milton Chamberlain]

Investment Info:

Single-family residence buy & hold investment in Columbia.

Purchase price: $80,000
Cash invested: $37,000
Sale price: $80,000

single family 900 sq ft 4 bed 1 bath was converted to 3 bed 2 bath and brought laundry upstairs in rehab

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

It was purchased from a family member in a package deal

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

purchased from a family member in a package deal

How did you finance this deal?

traditional financing

How did you add value to the deal?

Gutted and rehabbed. Put in insulation and replaced wall boards with dry wall. Replaced roof shingles. new kitchen. new bath. moved utilities downstairs. moved washer dryer upstairs. LVP flooring and new carpet throughout. new duct work. landscaping.

What was the outcome?

increased rents from 900 to 1200/month.

Lessons learned? Challenges?

get a good contractor if time is of the essence. Initially began rehab with personally sourced crew. they did quality work but were slow.

when we hired our current contractor, they completed the remainder of the work in half the time.

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

ME! :) agent.