Buy and Hold in Indy

[Jacob Messer]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $94,000
Cash invested: $120,000
Sale price: $242,000

This was a rather ambitious project on a slowly developing street in Indy.

Nearby there are wonderfully remodeled homes and down the street there are a multitude of quant barn style homes.

This house was certainly the worst on the block but we did about everything we could to turn it into an AirBnb for our Client.

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

We love turning massive dumps into nice homes.

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

Our investor wholesaled the property from our network.

How did you finance this deal?

He used personal finances and hard money loans

How did you add value to the deal?

We did an initial scope and then increased it by $40k to increase the assessed value and put it in competition with the nicer comps in the surrounding area.

What was the outcome?

Investor got the appraised value he was looking for; pulled out and is actively searching for another property.