SFR Downtown Charmer

[Ashley Carr-Lewis]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Cash invested: $18,000

Remodeled a 3/2/2 in downtown. So many fruit trees, pecan trees and just seclusion, even though in downtown Gravette.

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

The price was amazing and the ability to add in equity. Ensuring to not be upside down. (Which is our strategy.)

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

Off market.

How did you finance this deal?

Smaller, private bank.

How did you add value to the deal?

New flooring, finishing out the seller’s addition, exterior/interior paint, kitchen cabinets, gutting existing bathroom.

What was the outcome?

House appraised at $240k

Lessons learned? Challenges?

Working with new contractors, not paying the full up front. Being a woman in the industry isn’t always easy.