Fallon Property Renovation

[Elizabeth Louise Lipke]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $58,000
Cash invested: $27,000

Single family 3 Bd 1 Ba w/ 1 car attached garage.

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

My father

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

Dad did.

How did you finance this deal?

Cash

How did you add value to the deal?

Updated bathroom and kitchen in early 2019. Installed new appliances including new water heater, furnace, dishwasher and garage door opener.

What was the outcome?

Increased monthly rent by almost 50%

Lessons learned? Challenges?

Updates took longer than we had hoped. 6 months of vacancy.

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

MCM Realty is property manager, Battle Born Maintenance Team did bathroom and other repairs.