Bought two houses in one package deal.

[Matthew Weaver]

Investment Info:

Single-family residence buy & hold investment in Culver.

Purchase price: $37,000
Cash invested: $37,000

Bought this property in Feb/2022. Since then, I made a few moderate upgrades, such as rain gutters, adjusted the property line between this property and the neighboring property to remove an encroachment, and added a deck to improve outside space for the Tenant. It just sold for 125K. This represents a modification in my previous business model, as I will flip properties on occasion to improve other cash flow.

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

The potential to improve the property and hold and/or flip.

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

I found this deal in D4D. Negotiated directly with the owner and simultaneously bought both houses, that the one person owned, which are adjacent to each other.

How did you finance this deal?

My cash assets, then BRRRR

How did you add value to the deal?

The original open deck and property line between the two properties was dysfunctional. I could see the potential of moving the property line to benefit both properties and the construction of a proper privacy fence, including a sizable entertainment decking area on both sides improved both properties' usability and privacy.

What was the outcome?

The significant improvement in the outdoor space increase appraised value and renter satisfaction, thus allowing for the rent to be increased by $200/month, without having to spend a significant amount on renovation.

Lessons learned? Challenges?

There was a challenge with property line adjustment, which came down to, as Kiyosaki states, find the experts and utilize them. Hired the right surveyor and attorney and it was approved.