Diamond in the rough

[Jeff Boyle]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,000
Cash invested: $62,000

This will be a long term rental that we may convert into a short term at some point. Maybe a "Mad Men" full mid century modern Short Term Rental Experience.

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

We were able to purchase it at a really good price and it is only a few minutes to the larges sports complex in the country.

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

A past client is friends with the previous owner and told me about it knowing I might be interested in purchasing it.

How did you finance this deal?

Cash

How did you add value to the deal?

We are putting in a new kitchen, refinishing the hardwood floors, paint the entire first floor, and we are finishing the basement and adding a Rec. Room, a full bathroom and a bedroom. It will now be a 3 bed / 2 bath.