Bought, rehab, holding

[Account Closed]

Investment Info:

Single-family residence buy & hold investment in Newport News.

Purchase price: $110,000
Cash invested: $50,000

House was built in the '50s, smoker had lived there for decades. Needed a good bit of work but property had great potential in my opinion due to cost & location

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

Income potential

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

With help of Realtor

How did you finance this deal?

Cash

What was the outcome?

Just as I expected - House got a major face lift, tenants are vetted through my Property Manager. Completely satisfied with outcome.

Lessons learned? Challenges?

Evaluating items/projects to do weighing cost/return, keeping in mind I would be keeping this house.

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

Agent