Single Family Resident in a historic Savannah, Georgia.

[Patrick T. Anim]

Investment Info:

Single-family residence other investment.

Purchase price: $89,000
Cash invested: $39,000

2/ 1 SFR approx 900 Sq ft. Detached Garage. In Historic Savannah.
Quite area this is a starter home.

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

This person I know who know someone asked me if I wanted this house about 20 years ago. The owner was not paying his mortgage and was going into foreclosure.

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

I want thru a Beneficial Finance Co ( Not in existance now ) got a loan and rest is history..

How did you add value to the deal?

I have cut huge trees in the front , the side and back, New roof, Painted the out side trim and installed rotten wood from the back window( in the kitchen )

Lessons learned? Challenges?

I need to redo the inside but have issues with getting permit with the city of Savannah and General Contractor backed out on the last minute.

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

Nope