Renovated Forest Ave Oasis

[Adam Oldham]

Investment Info:

Single-family residence buy & hold investment in Indianapolis.

Purchase price: $30,000
Cash invested: $115,000

Welcome to the Forest Ave Oasis, this is our new AirBnB property in downtown Indianapolis! We took this house down to the studs! This was arguably our hardest renovation yet as we completely tore out the exterior brick walls & reframed with dimensional lumber. This allowed us to create an open concept floor plan & place new doors & windows throughout the house.
This house has many new features such as brand new stainless steel appliances, new flooring, LED lighting, tiled showers & new kitchen.

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

Up & coming area & I always like a good rehab!

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

Listed on the MLS.

How did you finance this deal?

Bank & private partner financing.

How did you add value to the deal?

Complete renovation of the building.

What was the outcome?

Refinanced this deal & held as a STR.

Lessons learned? Challenges?

Self managing a construction project is underrated. It provides a good opportunity to really understand the work that goes into a renovation project & most importantly nobody is going to care about the budget & timelines as much as you do. So you're highly likely to stay on schedule & on budget. Lastly, money saved by your self management can pay for better contractors which will ultimately save you a lot of time & money in the long run.