Second Investment - Top-to-Bottom Rehab in Jacksonville, FL

[Carrick Young]

Investment Info:

Single-family residence buy & hold investment in Jacksonville.

We purchased this property for $70,000 and spent a significant amount renovating it from top-to-bottom. Being our first rehab, it took a lot longer and cost a lot more than we initially thought - but we made it through! Recently, we secured a tenant and it is cash flowing nicely.

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

Our real estate agent brought us this deal off-market as she had been doing a lot of work in the neighborhood and spoke to the owner who was willing to sell.

How did you finance this deal?

All-cash

How did you add value to the deal?

Complete rehab.

Lessons learned? Challenges?

The biggest challenge by far was overseeing the rehab from the other side of the country. We learned a lot of lessons regarding working with contractors and how to handle the process.