Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

28
Posts
11
Votes
Jackie Lambert
  • Louisville, KY
11
Votes |
28
Posts

Spacious 2-story home in Germantown.

Jackie Lambert
  • Louisville, KY
Posted

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

  • Jackie Lambert
  • Loading replies...