1329 Brookside, Hurst

[Robert Miller]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $156,000
Cash invested: $11,500

Some paint and drywall work, retile kitchen floor, granite countertops, remove upper cabinets from kitchen bar

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

Love SFR that are in my high-demand area

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

MLS, they said it needed a roof so no one was interested. My roofer said it was fine for a rental.

How did you finance this deal?

HML to start and will finance out with conventional 4% rate

How did you add value to the deal?

Open kitchen, some paint and drywall

What was the outcome?

Have tenants before renovation

Lessons learned? Challenges?

Tried to go super low cost on the rehab and STILL cost more. Will dig deeper next time.

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

Movement Mortgage of Addison