Lawn House fixer upper

[Autumn Rankin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $30,000
Cash invested: $10,000

2/1 on 3 lots = 0.35 acres in Lawn, Texas - population 353.
Rehab budget $10,000
Doing all cosmetic work myself
House pier & beam foundation leveled
Electrical was already updated
plumbing was already updated
Central air & Heat was also already present
Tearing off porch currently to open up.
Windows were all in great condition
and it came with a new roof :)

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

I know the market in the surrounding metro and knew that the fixing would be cosmetic

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

off market- a lady I knew just wanted to get rid of it and I talked to her about it

How did you finance this deal?

Hard money - Bank personal loan.
put off the 1st payment for 45 days, giving me time to rehab and get renters

How did you add value to the deal?

got house leveled
cleaned up
replaced cosmetic items

What was the outcome?

great small rental for family
great returns

Lessons learned? Challenges?

UGH!!!! The little details of putting in new sheetrock or fitxtures drives me crazy.