Single family fix and hold

[Philip Hernandez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $62,000
Cash invested: $50,000

Single family home with a 26k rehab, currently rented out. Learned a lot about electrical through the issues that came up fixing this guy up.

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

Cash flow, in an improving neighborhood

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

MLS

How did you finance this deal?

Traditional financing

How did you add value to the deal?

Rehabbed electrical, bathrooms, and kitchen, upgrades throughout

What was the outcome?

Rented out at $950 a month 50k total invested into the deal

Lessons learned? Challenges?

Electrical was a headache, had serious upgrades needed, Went with a cheap bid on the contracting , and they did not do the level of upgrades needed to fully upgrade the electrical, had headaches for the first month that I rented it out.

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

@rebeccabauer is my prop manager, she’s a pro.