Buy and hold, doubled the value.

[Mike Stahlman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $82,500

#13 Purchased as a fixer upper to rent and hold. Bought as a 2 BR 1 bath, added bed and bath rooms and doubled the value of the house.

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

Good rental property at about 1/2 what the property could be worth.

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

Local wholesaler made offer slightly lower than asking.

How did you finance this deal?

Local bank interest only then convert to 30 year fixed.

How did you add value to the deal?

Added Bedroom and Bathroom

What was the outcome?

Nice house rented in about a week after completed with 6 applications.

Lessons learned? Challenges?

There was a slight holdup with permits because I wanted the plumber, electrician etc to pull their own. But on any job I will pull my own permits up front from now on because the contractors are not good at following through so just do it yourself.

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

no