Single family Home remodel

[James Hoffman]

Investment Info:

Single-family residence buy & hold investment in Wichita.

Purchase price: $50,000
Cash invested: $12,000

Full unit remodel. New kitchen bathroom windows and siding.

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

Return on equity and cash flow

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

Auction

How did you finance this deal?

Self financing

How did you add value to the deal?

Final debt service ratio for the project and projected rent.

What was the outcome?

Rent came in higher than we calculated. Appraisal came back @ $106,000

Lessons learned? Challenges?

Such a large project windows put us behind schedule a week why we waited for them to arrive