Full rehab property.

[Shivam Patel]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $1
Cash invested: $40,000

Inherited a house, it was completely demolished. Drugs were found in basement, holes in wall, and completely destroyed interior. I fixed it up and rented it out to new tenants. The house unrecognizable.

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

It was a inherited house!

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

My parents gave me this deal.

How did you finance this deal?

It was given as-is.

How did you add value to the deal?

I renovated the entire property.

What was the outcome?

it is rented with new tenants, and cashflows about $1000/month after Capex, prop management fees, taxes, etc.

Lessons learned? Challenges?

ALways do tenant screening. There were two full dumpsters load of trash.

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

I worked with my contractors in the local area.