Hoarder House Rehab and Rent

[Rick Bassett]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $80,000

All in at $160k, ARV is about $240k. This was a complete rehab of a hoarder house. We are holding and renting it for solid cashflow for a few more years.

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

This is what we do

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

Contacted by the owner and the town

How did you finance this deal?

Cash

How did you add value to the deal?

Strategic renovations

What was the outcome?

3 months start to finish, a substantial gain in value and great cashflow

Lessons learned? Challenges?

Get the exterminator in earlier, killing the family of rats took awhile