My best percent return on a SFH - Greenville SC

[Jason R.]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $165,000
Cash invested: $120,000
Sale price: $806,000

Bought a house that was in need of a full rehab and had additional land as a stranded asset. Was able to subdivide and split off half an acre and sold for 190k, house on the remaining property after rehabbed at 616k.

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

This property had another lot that could be subdivided and sold.

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

Seller was very very difficult to work with, had been under contract 3 times previously but because seller was so hard to work with they all fell through.

How did you finance this deal?

10% down and a construction loan that rolled into conventional when done

How did you add value to the deal?

On the lot worked out a deal with adjacent lot who owned road frontage for the stranded asset and both sold to the same developer. For the house it was a complete gut + I finished the basement which was just a walk in crawl space previously.

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

I am an agent with eXp Realty: If you are interested in finding deals in Greenville SC message me and I can walk you through my process and help you find a great investment!