Buy & Hold St. Petersburg, FL

[Alci Martinez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $232,500
Cash invested: $45,000

Newly renovated SFR in Shore Acres, St. Petersburg, FL

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

The area is very desirable, great schools, restaurants, shops and major airports close by. 12 mins from downtown St. Pete and beaches.

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

I found it through my realtor. We came in all cash and waved all inspections and contingencies. Title cleared and we were closed in 8 days.

How did you finance this deal?

I used a private lender, BackFlip. They are great and very easy to work with.

How did you add value to the deal?

Complete renovation. New kitchen, bathroom, counter tops and appliances throughout the home, including new HVAC.

What was the outcome?

Great! ARV is $386,000.00

Lessons learned? Challenges?

Act quick, these type of deals are always available but to the ppl that are willing to act fast.

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

Yes, Mustafa Lakadawala from Clarke Realty (local to St. Pete), BackFlip (private lender) and Capital Construction (FL licensed GC)