Buy & Hold after a complete Rehab of the entire house

[Ravi S.]

Investment Info:

Condo buy & hold investment.

Purchase price: $108,000
Cash invested: $60,000

Bought
Complete renovation
new 2 bathrooms, new floors, new kitchen, remove popcorn ceiling,
new paint

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

to get experience in a complete rehab job

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

MLS
negotiation with the buyer

How did you finance this deal?

standard mortgage 30 year

How did you add value to the deal?

by doing a complete rehab

What was the outcome?

good completely new unit
which will be zero maintenance for next 10 years

Lessons learned? Challenges?

no need to do popcorn ceiling
could have saved 4-5K on rehab