Complete rehab post fire

[Paul O'Brien]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $3,500
Cash invested: $39,000

3 bed 1.5 bath brick home

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

Challenge to renovate an abandoned and gutted home to a profitable energy efficient rental unit.

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

Hours of searching the internet for a solid stuctured home.

How did you finance this deal?

cash

How did you add value to the deal?

renovating the property and adding a 3rd bedroom

What was the outcome?

Possitive cash flow and value added to the community

Lessons learned? Challenges?

Finding dependable contractors was tough

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

Several lenders and contractors had backed out due to the property being in the city of Detroit.