Quaint Neighborhood Fix & Hold

[Greg Ross]

Investment Info:

Single-family residence buy & hold investment in Uniontown.

Purchase price: $50,000
Cash invested: $60,000
Sale price: $170,000

Found an off-market property that none of my investor clients were interested in or able to purchase at the time and bought it for a fair price with cash. Rebabbed the property with the help (he did it all!) of my preferred contractor. Considering refinancing if rates become more attractive or I need the cash out for something.

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

I've purchased several properties that were more "turnkey" and wanted to try my hand at a true fixer-upper. So far, so great!

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

I'm known in my market as an investor-friendly Realtor, and people bring me deals based on this reputation. I offered the seller a very fair price for their property, so it was a win-win.

How did you finance this deal?

Cash.

How did you add value to the deal?

The contractor rehabbed the property. We also reswizzled a back-to-back bathroom (1.5 baths)/laundry area into a full 2-bath with stackable laundry solution in the hallway. Huge value add!

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

Yes, I worked with myself, and I highly recommend myself to anyone looking for concierge-level real estate service :)