First 203K financed rehab.

[Marcus Holloway]

Investment Info:

Single-family residence buy & hold investment in Indianapolis.

Purchase price: $78,000
Cash invested: $124,000

Buy and hold. Used 203K funding for rehab

[Marcus Holloway]

@Andre M. It went well! The house is currently rented. I was required by the bank to hire a rehab consultant to approve my GC’s work. At first I fought against it to save money but later learned the consultant was well worth the money. Banks don’t like to cut checks to contractors without a “boots on the ground “ person. The purchase price was 78k. The rehab was 45k and the home appraised for 140k after all repairs were done. Just under 20k in forced equity and I have a great tenant, now.