MKE SFR Refi (Rufus King)

[Drew Lied]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $25,000
Cash invested: $40,000

PROPERTY START DETAILS: 2 bed, 1 bath, goofy layout
ESTIMATED JOB TIME: 4 weeks
ACTUAL JOB TIME: 36 weeks (contractor issues)
PROPERTY END DETAILS: 2 bed, 2 bath, finished basement
APPRAISED VALUE AT REFI: $127,000
CURRENT RENTS: $1,225 plus all utilities are tenants responsibilities

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

Price was right

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

I found it through my network of wholesalers

How did you finance this deal?

Private money

How did you add value to the deal?

Updated the place

What was the outcome?

Refinance, pulled cash out and now it's a buy and hold

Lessons learned? Challenges?

Challenges were the contractors on this job. Had a few run off. Also learned about egress rules from the city

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

No