Single Family Value Add Property

[Shawn Mcenteer]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $560,000
Cash invested: $60,000

Single family live in flip which is turning into a buy and hold with massive amounts of equity. Equity has changed out life, properties like this one we leverage for other investment like small businesses and more properties

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

We had house hacked for many years with 4 kids and wanted a single family in a very desirable town that we could create equity with

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

I found it on the MLS, I am very good at negotiating and was able to get this substantially lower than ask price when the home should of sold over ask but do to poor marketing the home sat

How did you finance this deal?

I used yet another low money down conventional mortgaged, we tend to buy cash or low money down conventional when purchasing (yes even multi family homes in todays market without PMI )

How did you add value to the deal?

We renovated the entire property and home. Made major updates throughout. property is well over 700k and like over 800k

What was the outcome?

Lots of equity awesome place to live fully paid for from our house hacks cash flow

Lessons learned? Challenges?

Invest in real estate, as I write this my IRA is down to 2015 numbers while our properties equity is above what my financial advisor says my IRA will be when I turn 65

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

Self