148 Burnham St E Battle Creek MI

[Bryan H.]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,000
Cash invested: $20,000

Brick house built in 1940s that was a run-down rental prior. 6 months of renovations to remodel the entire interior. The largest house in our portfolio. 4 bed 2 bath with 3k of living space. 2 additional vacant lots with a detached 2 and a half car garage. 7k down 3k in fees and 10k in renovations done by me over 6 months. owned by my spouse Megan.

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

We were looking for our first deal to keep me working and moving forward in growing my skills and knowledge in residential construction while being within the city limits of Battle Creek MI.

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

This deal was found on Zillow and we did not get the best of deals on it. We negotiated for a new attic fan and A/C system be put in. was listed for 130k and I knew I could get a good amount of rent out of it to a larger family.

How did you finance this deal?

This deal was financed through Better.com. It was horrible and we will not be using them in the future.

How did you add value to the deal?

I did all the work myself for the renovation. We remodeled the entire house including the basement, the original hardwood and the bathrooms. The only room we left was the kitchen which only got new light fixtures and paint.

What was the outcome?

We had the most expensive rental in the entire city at the time of listing and we got great tenants that met all of our requirements.

Lessons learned? Challenges?

I do not like working on plaster walls nor do I like pulling 2.5k sqft of carpet to get to the hardwood.