SFH Adjacent to Our 6-Unit in Downtown

[Bryan Escudero]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $40,000

This purchase is a SFH in downtown Columbus. We will BRRR this one.

The rehab budget is $27,000 and the ARV is $145,000.

If nothing else, the rents are strong and the area has strong appreciation so we will hold them and make them move for us and our partners!

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

The interesting thing about this one is that we will rent this out to a veteran. Also, it is next door to the 6-unit we purchased a month ago. This makes us the owners of 1/2 a city block in Columbus! Our long term plan is to get the city to get the infrastructure to a place that we can turn these two lots into a build and rent for 30 units. We are expecting the project to take flight in 5 years, but we are happy to have gotten this one. We are happy to take care of a vet and we are excited to

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

I spoke with the property manager of the newly acquired property next door.

How did you finance this deal?

We have a hard money loan for 6 months and we will roll it into a long-term loan once the SFH is rented (we have 4 people waiting in line to move in).

How did you add value to the deal?

We are fixing floors, kitchen, siding, painting, roof and adding a handicap ramp.

What was the outcome?

TBD

Lessons learned? Challenges?

TBD

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

I worked with Jon Styer who has been a great resource for us in the Columbus, Ohio area.