buy and hold investor

[Andreus Thomas]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Cash invested: $80,000
Sale price: $372,000

family home complete gut 1200sq’ took about 6 months now its being rented with $200 month cash flow

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

i know i could get it done plenty of equity and it was a family home

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

it was across the street from my house so after it sit for 2yrs my wife and i made an offer

How did you finance this deal?

hard money lender with $18,000 down

How did you add value to the deal?

complete renovation

What was the outcome?

very good i’m getting monthly cash flow and about $60000 in equity

Lessons learned? Challenges?

screening contractors did more physical labor then i wanted learning about the county rules and regulations permits

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

new funding