First Investment Project

[Jason C. Mooney]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $106,000
Cash invested: $7,000

This is my first project. Bought as a foreclosure. The property flooded during Hurricane Harvey and the previous owner had started the rehab, albeit a poor quality rehab. ARV is around $189,000. Looking for ~$200/month cash flow and, conservatively, $40,000 equity capture.

How did you finance this deal?

Hard Money Loan for purchase price and rehab costs.  

How did you add value to the deal?

Rehabbing the home to achieve the upper end of market rent.