My recent Buy and Hold Project

[Jose Cortes]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $212,500
Cash invested: $160,000

Currently rehabbing

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

I originally planned on fix and flipping the property but I see an opportunity to make more money over time by holding it as an Airbnb.

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

I found this deal through the MLS from my realtor. It was an inherited property and the owner did not want to fix it up. I had an inspection performed and then negotiated the price down due to all the items found in the inspection. I negotiated from $350K to $212500.

How did you finance this deal?

I borrowed some money form my 401k, a family member, and the rest was either hard money or personal loans.

How did you add value to the deal?

I am rehabbing to high finish to get top dollar if I ever decide to sell it. We also plan to use it as a vacation home.

Lessons learned? Challenges?

Make sure you find a good general contractor you can work with since this property is out of state for me. Also make sure to form a good relationship with your realtor so they are willing to go above and beyond, like checking on the progress of your rehab to make sure the project stays on time.

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

I would recommend Matt Adelmann (you tube channel) and Pam Galbraith from the Desrochers Realty group.