Boerne TX Fix and Hold

[Heath Shepard]

Investment Info:

Single-family residence buy & hold investment in Boerne.

Purchase price: $325,000
Cash invested: $66,000

I currently occupy this property until my other house in Boerne is done being renovated in January 2023 at which time, I will rent this SFD out.

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

it was the worst house in a very good neighborhood.

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

An investor/ property manager friend of mine suggested it to me.

How did you finance this deal?

I financed it with USAA on a 30-year FHA.

How did you add value to the deal?

Complete interior/exterior paint job, new fixtures, new roof, exterior lights.

What was the outcome?

Increased property value where I can now refinance the home and pull out over 80k in equity to invest in my next project.

Lessons learned? Challenges?

I should have refinanced sooner... with interest rates as high as they are I am now torn between pulling out the money I have in this house and keeping my 2.34% interest rate. I am uncertain what I will decide at this time.