Full renovation with required oil remediation

[James Letchford]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $47,500
Cash invested: $102,000

Property with need for oil remediation. Full renovation. Before and after pics attached.

ARV: $210,000

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

The challenge of purchasing the property with a large remediation project ahead caused a lot of the competition to go away.

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

MLS.

How did you finance this deal?

Cash purchase w/construction loan re-finance.

How did you add value to the deal?

Full renovation, inside and out.

What was the outcome?

Fantastic little property with over $50,000 in equity and $500+ monthly cash flow.

Lessons learned? Challenges?

Timeline for rehab can really effect how much money you make on your deals.

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

Upen Patel @ The Federal Savings Bank (Lender)