Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 6 years ago,
Real Estate Is A Gold Mine
Investment Info:
Single-family residence fix & flip investment in Trenton.
Purchase price: $10,000
Cash invested: $25,000
I buy abandoned properties. Some times they are donated to my nonprofit organization I rehab them then sale as affordable housing instead of renting them.
What made you interested in investing in this type of deal?
My dad taught me this trade growing up I wanted to learn as much as I could to play monopoly in real life like I enjoyed as a kid. I actually still play with my children since they have the new electronic banking cards and 2million earned every time you pass go. This couples with real life so they won't be intimidated by large numbers.
How did you find this deal and how did you negotiate it?
Deals find me now I've been investing close to 20 years in this area.
How did you finance this deal?
Cash
How did you add value to the deal?
Complete rehab. New plumbing electric hearing roof framing interior. It's cost effective when you are the GC and Investor
What was the outcome?
Had a cash flow for over 10 years at 9600 a year minimally. Now selling to new tenant as affordable housing for 70k. Will hold mortgage for them at $600 a month. Will add 10 year mortgage note to my portfolio. Looks better than a lease agreement when I decide to access equity.
Lessons learned? Challenges?
Keep investing. Buy Low as possible.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am an agent and GC and own my own construction company.