Buy, renovate, rent, hold (no cash out)

[DeeDee D.]

Investment Info:

Single-family residence other investment in Scottsdale.

Purchase price: $745,000
Cash invested: $1,500,000

Full gut remodel w/ new build adding 2000 sq feet.

Buy and hold as a self-operated vacation rental

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

MLS

How did you finance this deal?

cash/self-funded

How did you add value to the deal?

adding square footage and reconfigure of existing structure

What was the outcome?

Complete transformation of entire property and finished new structure from foundation to occupancy on tight timeline

Lessons learned? Challenges?

Allow extra time when dealing w/new build/inspections

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

Mary Larsen w/ RealtyOne. my favorite agent!! goes to bat and knows how to get the job done. Has gotten many tough lowball deals completed for us! Always the agent that goes the extra mile. 100% of the time she far outperformed the selling agents we have dealt with.