Rental home Fix n Hold

[Jeanie Lambertson]

Investment Info:

Single-family residence buy & hold investment in San Diego.

Purchase price: $20,000
Cash invested: $50,000

Cash purchase, plus additional $50 - $70k in renovations. Updating the pool and replacing the roof. Mid term rental for traveling professionals.
Next purchase will be a DSCR investment loan via LLC

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

Setting up retirement portfolio via rental investments

How did you finance this deal?

Cash purchase but renovations are funded with a 5 day Heloc amortized for 30 yrs to keep pmts low. Heloc delivered cash to my bank account in less than 5 days from application submission.

How did you add value to the deal?

I am a Wholesale Mortgage Broker in almost every state in the U.S.
I have a NON INCOME QUALIFYING LOAN that do not report on credit reports which helps when I make personal purchases. They don't see all the rental home liabilities..
nmls #1914830

What was the outcome?

Heloc on the rental was impressively fast and super easy

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

Jeanie Lambertson