Ready to buy second

[Joshua Wentz]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $335,000
Cash invested: $30,000

2 br / 2 bt home with large 2 car garage on its own property in LA County. Part of HOA with only $160/month.

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

First purchase, primary residence

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

This was a pre-foreclosure and priced to sell as-is. It needed a lot of labor to have it ready for move in.

How did you finance this deal?

FSA first time home buyer at 2.7%

How did you add value to the deal?

New roof, new kitchen, new flooring, new HVAC overhaul, landscaping, fencing, painting exterior and interior.

What was the outcome?

Appraisal now over $500k

Lessons learned? Challenges?

I'm glad I bought low (my only option at the time) and gradually added value with upgrades

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

Sergio Flores, CA (Los Feliz)