San Antonio Lavaca neighborhood.
Investment Info:
Single-family residence fix & flip investment.
Bought in Lavaca neighborhood as a buy and hold. Full 13 month reno. 75% of the work I did myself. Was offered a sweet deal as an owner finance. Will update!
Update~~ deal fell through. Buyer scared off by price per sqft. I ran the deal by some other investors and an agent. All told me that I left some money on the table. Got it rented out a week later!
What made you interested in investing in this type of deal?
huge margin for value add.
How did you find this deal and how did you negotiate it?
MLS. Not much negotiating as the area is moving quickly.
How did you finance this deal?
cash
How did you add value to the deal?
I turned a 118 year old triplex into a brand new SFR.
What was the outcome?
rented out 13 months after I first swung a hammer on it
Lessons learned? Challenges?
hmmmmmm.......I feel I had a good grasp on what to expect, but due to the scale and depth, I fell a bit short on how small problems really add time to the project.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
no