Medical Mile BRRRR and Foundation fix!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $130,000
Cash invested: $70,000
Medical Mile BRRRR. A beautiful old home that was serious foundational issues...
No one wanted it because they were unclear if the foundational was fixable. We knew the home was worth over 300k but needed to understand how much the foundation would cost to fix (everything really does have a number...)
cost us around 20k to jack up the foundation and raise the corner of the home 6 INCHES! IT WAS CRAZY.
after the foundation was secured, we did a full rehab in there. added a second full BA downstairs. Bought it for 130k, it appraised for 330k 5 months later!! pulled all of our money out!