SFH in Durham, NC

[Richard Mercado]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $129,000
Cash invested: $36,000

SFH in Durham, NC about 1 mile East of City center.

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

Property was in great condition and in the path of progress.

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

Found it on the MLS

How did you finance this deal?

Conventional Financing at 3.375%. 25% Down

How did you add value to the deal?

Spent $36,000 on moderate rehab, mainly floors, kitchen and bathrooms

What was the outcome?

BRRRR ... Refinanced and got most of our capital out (left approximately $22K in the deal). We still have this property in our portfolio and plan on holding this one for quite a while ....

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

I would highly recommend Will Spence and his team at Highland property Management. He did a fantastic job of overseeing the rehab and had my back throughout the entire process.