1st Single family stick built rehab

[Autumn Rankin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000
Cash invested: $25,000

2/1 on 3 lots = 0.35 acres in Lawn, Texas - population 353.
Rehab budget $10,000
Doing all cosmetic work myself
House pier & beam foundation leveled
Electrical was already updated
plumbing was already updated
Central air & Heat was also already present
Tearing off porch currently to open up.
Windows were all in great condition
and it came with a new roof :)

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

learning, also in a super hot market

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

saw a terrible sign for sale by owner, just kept calling them

How did you finance this deal?

used a personal loan (18% interest ). I DONT recommend doing this

How did you add value to the deal?

Rebuilt from foundation to roof

What was the outcome?

so far 10 days on the market, 4 people came for open house. No calls from realtors to see it

Lessons learned? Challenges?

seriously! Stick built double wall homes seriously have hidden "Gems" . I dont want to do a house again. Ill stick to mobile homes.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Joshua StandingCloud - Realtor here in Abilene who is selling it for me! I met him here. Amazing guy and business man

[Clint Shelley]

Congratulations on your deal. Did I read correctly population of 353? Where is the market coming from? Abilene? Oil and gas workers? 

Clint