Dallas Holdover Tenant Flip

[Jacob V.]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $225,000
Cash invested: $60,000

Had to do my first eviction on this property, but sheriffs will be out next week after a successful trial and looking forward to getting this one fixed up!

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

I own a long term rental nearby and bought this for $150k less than the value of the other. Similar square footage and bedrooms.

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

Found this from a wholesaler

How did you finance this deal?

Hard/Private money - 10.9% and 2 points

How did you add value to the deal?

Going to do paint, HVAC, drywall work, remove a window unit, and add laminate flooring

Lessons learned? Challenges?

We lost our first trial and had to appeal to the county court - learned to not leave it to the lawyers and instead to be in court as well.