SFH Investment in Illinois

[Raymond Sjolseth]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $330,000
Cash invested: $10,000
Sale price: $475,000

3 bed + 2 bath home purchased in need of cosmetic rehab with GREAT bones and solid mechanicals. I refinished the hardwood floors, installed granite, painted kitchen cabinets, added SS appliances. Updated baths w marble/new fixtures. Installed LED lighting throughout w/ dimmers. Newer windows apx 5yrs, mechanicals & roof. Fantastic storage. Attached shed to garage. Expansive fenced back yrd. Close to restaurants, shopping, schools etc. A great one!

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

Amazing neighborhood, all cosmetic rehab, great schools, high walkability score.

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

Local agent I had a relationship with.

How did you finance this deal?

Cash.

How did you add value to the deal?

Cosmetic rehab, began with the end on mind of a starter family living in this home.

What was the outcome?

Bought it, renovated, rented for a year, sold it. The rent paid for the rehab!

Lessons learned? Challenges?

This was a simple, clean deal!