43 Belleview Ave, Salem

[Kevin McCafferty]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $270,000
Cash invested: $180,000
Sale price: $550,000

Full gut rehab. We added on a lower level master bedroom, walk-in closet and bath along with a laundry room. We lofted the ceilings and rebuilt the deck, new roof, skylights, electrical, plumbing, kitchens, baths. -

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

I lived in the neighborhood so it was easy to control.

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

Talking with neighbors and asked what they felt was a fair price.

How did you finance this deal?

Half cash half bank construction loans

How did you add value to the deal?

I managed all aspects of the buy, build and resale to make it an easy 1 stop shop for my investors.

What was the outcome?

Great, homes sold quickly and set a record in that neighborhood.

Lessons learned? Challenges?

Don't over do things!

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

Not on this deal