4 years later - MLS BRR - SF home in NH

[Brian Anderson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $174,000
Cash invested: $21,000

On-market 100 year old home, purchased from the MLS. Renovated kitchen and bath along with renovation on 100 y/o hardwood floors and new roof to make this a downtown Concord gem. Cash buy with sweat equity in renovation allowed for quick re-fi. Current long term tenants with good rent & equity appreciation

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

This was a great location (wish I had bought more in this area) and is an efficient SF home with a small lot minimizing maintenance. Walk able neighborhood

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

Was on MLS, negotiated an all cash deal with no inspection contingencies

How did you finance this deal?

Cash purchase and renovation. Refinanced after seasoning period with forced appreciation as well as more favorable comps once we arrived in the spring home buying season vs winter selling (when purchased)

How did you add value to the deal?

Replaced the aging roof, renovated kitchen, bath and mud room. relocated laundry to basement freeing up precious space in the home. Sanded and refinished original 100 y/o hardwoods to make this home pop. Fresh paint and new entry doors finished the house off and had it ready to rent inside 30 days.

What was the outcome?

Cash our re-fi later with long term tenants with excellent rental history and rent appreciation.

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

Worked as my own agent on this deal and having the cash on hand to get it bought was a huge lever in getting the deal closed. Due diligence was key in this deal as the roof needed replaced, chimney needed to come off (in disrepair) and entry doors needed replacement as well.