Brrrr... The ugly duckling. 553

[Michael Gutierrez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Cash invested: $12,000

Rehab and renovation. Metal roof, stucco, additional room or rooms, additional bathroom, new kitchen, new bathrooms, new windows. Yard maintenance, additional parking and or studio. 2b 1b / 3b 2b option

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

Brrrr property. Stand out unappealing home with multiple possible cash flow options for use. A win win purchase worked well with the seller to create a deal. The numbers, neighborhood, and rehab costs aligned.

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

Off market purchase. I asked the seller what needed. My starting point.

How did you finance this deal?

IO that I will refinance in 6 to 12 months

Lessons learned? Challenges?

Win win is a great business strategy when deals are made / created.