Rehab w/ 13 year tenant.

[Anthony Roberts]

Investment Info:

Single-family residence buy & hold investment in Deland.

Purchase price: $30,000
Cash invested: $3,000

Needs complete Rehab / long term tenant (13 years). Paid for itself in the first few years already. Worth $130,000 once finished. Total rehab paid $15k total in $50,000. Yearly return has been around $7,000 ($25k since purchase) will rehab and raise rent to market this year, $900-950 hold for another year to pay for rehab then sell off, reinvest sale in to bigger property.

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

Who could turn up that deal?

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

Seller needed to sell fast all cash deal less than 30 days.

How did you finance this deal?

All cash

How did you add value to the deal?

Repair / replace / rehab

Lessons learned? Challenges?

Do an inspection or hire someone to do an inspection. Note current condition of home even if tenant still in it. Make sign new lease.