First Investment home... rehab underway

[Jason Mayes]

Investment Info:

Single-family residence wholesale investment in Martinsville.

Purchase price: $100,000

Wholesale property in rehab phase currently

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

Oppurtunity to build long term wealth and residual income for retirement

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

My brother-in-law who is also a real estate investor shared the listing from a wholesaler

How did you finance this deal?

Cash finance

How did you add value to the deal?

We are currently in the rehab phase and updating the home interior and exterior. We are adding 160sq ft for a master bath and walk in closet so the home will be 3BR 2BA when completed

What was the outcome?

TBD

Lessons learned? Challenges?

Already learned a lot regrading finding insurance for vacant home, cash out refi options, building inspections, etc