Spacious 2-story home in Germantown.

[Jackie Lambert]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $179,500
Cash invested: $66,000

Spacious 2-story home in Germantown. Completely remodeled by us. Big bedrooms and bathrooms, nice backyard and a driveway. It’s been a good investment.

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

I liked the inside of the house and thought it had great potential. It had a driveway and a fenced backyard, which are great adds for this area. And it had been on the market for a while, so I thought we could get it at a lower price.

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

Zillow. Our realtor was the MVP here. She negotiated it down with (their) funds from the sale, as the sellers were divorcing and didn’t have any cash on hand to pay for the repairs that had to be made in the deal. They were going to bail but she came up with that plan.

How did you finance this deal?

FHA. Most of the cash was from our HELOC.

How did you add value to the deal?

We painted, added new LVT in most of the downstairs, granite countertops and a W/D. Other cosmetic things.

What was the outcome?

Very easy to rent. Admittedly she’s not much to look at on the outside. But everyone loves the inside, the driveway and the backyard.

Lessons learned? Challenges?

A great realtor is key!

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

Lisa George with Keller Williams.
Broker House Lending