My first time doing new construction as an investment property.

[Rachelle Wilson]

Investment Info:

Single-family residence buy & hold investment in Covington.

Purchase price: $4,500
Cash invested: $190,000

SF 3/2 new build. LTR

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

Found a large lot that I could divide into 2 parcels. At that time, properties that were on the market were so dilapidated they would have been a near tear down anyway. This vacant property was priced right. However, by the time I started construction, supply costs had gone up due to Covid.

How did you finance this deal?

Cash, then did a cash out refi.

Lessons learned? Challenges?

This was the first time building from ground up on a vacant lot. I did have a coach who lead me through the process. No significant challenges other than finding the right crew to do their job in a timely manner and correctly.

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

I am a licensed Real Estate professional.