Updating Bessie’s Cabin

[Jayne Wayne]

Investment Info:

Single-family residence buy & hold investment in New Orleans.

Purchase price: $390,000

Purchased my home and guest house as a fixer-upper in 2014.

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

Looking for my home by the ocean with equal value on income and enjoyment potential.

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

I looked scoured the real estate websites for over 6 months to find the home that suited me best

How did you finance this deal?

Hard money then refinanced with an fha

How did you add value to the deal?

I improved the aesthetic and energy efficiency of both cottages. They have great appeal and rent really well.

Lessons learned? Challenges?

Have a GREAT team. It takes a village.

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

A broker I would highly recommend