New Buy and Hold 3-Bedroom 2 bath SFL in Texas!

[Marc Stevenson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $96,500
Cash invested: $15,000

Great little 3 bed 2 bath SFH. I gutted and remodeled the Master bathroom and put a new central A/C unit in. Everything else was pretty much ready to go. I'll be holding this so there is no sale price yet. I used hard money initially. I have a tenant in and am in the process of refi-ing now.

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

Looking add building my buy and hold portfolio.

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

It was an off-market property that someone referred to me.

How did you finance this deal?

I used a Hard Money Lender and am getting ready to refinance now that the remodel is complete, and a tenant is in place.

How did you add value to the deal?

I gutted and remodeled the master bath and added cental A/C.

What was the outcome?

All in at 112K. It appraised at $155K

Lessons learned? Challenges?

Be ready to jump when the right deal comes along. Don't get caught up in paralysis by analysis and miss a good deal.

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

Yes. Marshall Reddick is the hard money lender I used. McCaw Property Management is my PM.