Hoarder House NOW Buy & Hold

[Reno Puente]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $35,000
Cash invested: $25,000

4 bedroom (converted garage) 2 bath around 1500 square feet.

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

I saw the ARV to be around $150,000.

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

Found this property, driving for dollars. It was a semi hoarder house. Very aggressive negotiations, it was all about the numbers for me.

How did you finance this deal?

Paid Cash. Rehab was also cash and credit cards.

How did you add value to the deal?

Paint inside & outside with new siding, roof, trim

What was the outcome?

Rented the house for $1450.

Lessons learned? Challenges?

This took a week longer than expected to rent.

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

Yes, I HIGHLY RECOMMEND MY REALTOR. It's me and my wife.