Beginning my investment journey

[Chris Martinez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,000
Cash invested: $45,000
Sale price: $150,000

This project is my first investment. This is a 3-bedroom 2-Bath 1222 Sq ft House. Wood Structure with Hardie Cement Fiber siding. The kitchen and bathrooms will be remodeled, each bedroom will have Ceiling fans and a new Central Heat and Air Conditioning System, and Water Heater.

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

Starting with something simple. I am thinking maybe a fix and flip. Also considering a buy and hold. Rents in the area are 900 to 1200.

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

I heard of this property becoming available through a friend. I made an offer and they buyer accepted.

How did you finance this deal?

I paid cash for the house and I am financing the remodel.

How did you add value to the deal?

The house will be re-insulated with spray foam insulation, new electrical meter loop, new Hardie siding and exterior paint. The interior doors will be replaced with new doors, new kitchen cabinets and countertops, bathrooms will be feature new tub/showers units, toilets, and vanities and countertops, water heater, and new central heat and air conditioning.

What was the outcome?

Currently, under construction hoping to complete end of January 2024.