Old Amish Road

[Jeremiah Parker]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $103,000
Cash invested: $160,000

Turned into our primary residence. We are using the equity we built into the property to fund our other projects.

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

Out of the gate we looked at it as our primary residence. It was a hoarder house and property needed a lot of cleaning both in side and out. It was literally an old amish house. no septic, electric or plumbing.

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

We found it through some friends. There was a Christian camp we send our kids to and they had this property donated and they wanted to just sell it.

How did you finance this deal?

We used a local bank with a construction rehab loan for a 1 yr interest only payments.

How did you add value to the deal?

We gutted the house and brought it back to new.

What was the outcome?

At the end of the day we were able to create 100k in usable equity for future real estate projects.

Lessons learned? Challenges?

In full guts they get uglier before they get better. Finding good and reliable contractors.