115 N. California St

[Joshua Ramage]

Investment Info:

Single-family residence buy & hold investment in Montgomery.

Purchase price: $30,000
Cash invested: $15,000

3/2 near downtown

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

This house had a lot of sweat equity and we were hungry to take it on.

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

Honestly, a sign in the yard with the contact number of the relator. We walked the property....and the surrounding neighborhood to get an understanding of the area. We put together a list of items to repair or replace. Ran the property through the bigger pockets calculator and leaned hard into it being correct.

How did you finance this deal?

Cash, from a BRRRR we just finished

How did you add value to the deal?

The basic answer is we updated everything we needed to and should. Electrical, plumbing, roof, AC. But what really helped us is we know how to make thing look good and last long so we did just that. We added wainscoting in the dinning area, we installed wood walls, we removed eye soars...you name it. And we were able to do this a pennies on the dollar because we are fast and efficient.

What was the outcome?

rented and financed. Infinite ROI

Lessons learned? Challenges?

Don't use glue down LVP flooring. Youll never have enough spray foam and caulk for houses this old.