House from Hell

[Matt Moger]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $53,000
Cash invested: $10,000

I have nicknamed this 'The House From Hell' which is referenced in my book 'The Book on Relational Real Estate.' Every possible mistake you could make, I made it as a young 27 year old investor. The power of a long term hold is that it ultimately made money & continues to do so.

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

One of my first opportunities to invest

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

MLS through an real estate agent

How did you finance this deal?

Bank Financing

How did you add value to the deal?

Full Rehab including new HVAC and roof

What was the outcome?

Still cashflowing well today

Lessons learned? Challenges?

Hiring/Firing contractors. Learned how to more accurately assess rehab costs. Properly vet tenants for the future.