Value add remodel in Phoenix suburb

[Ryan Hoover]

Investment Info:

Single-family residence buy & hold investment in Anthem.

Purchase price: $210,000
Cash invested: $60,000

Value add investment property. Completely remodeled the interior for about $17k and was able to increase rents by over $300 per month. This area went crazy since my purchase! This property now has an estimated value of $260k.

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

I am a big fan of this neighborhood and have always wanted to own a long term rental in the area.

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

This deal was in the MLS and had a tenant in place, which helped me get the home for under market value.

How did you finance this deal?

30 year conventional mortgage with 20% down.

How did you add value to the deal?

Complete interior remodel in a great area helped to boost rents by $300 per month.