My First and Last Rehab!!!!

[Renada Guyton]

Investment Info:

Single-family residence buy & hold investment in Live Oak.

Purchase price: $1
Cash invested: $20,000

The trailer was a 4/2 but it had to dinning rooms and a third small room so I turned it into a 6/2 working to finish the rehab work.

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

I had inherited the house from my Grandparents.

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

Well it was give to me by my Mother and Auntie; however, no one wanted the property so I took it out of probate and acquire the property.

How did you finance this deal?

I used personal funds to do the rehab however I am looking to a Heloc, Heloc Flex, or just a rehab loan or construction loan to finish. I am just looking to see what is my best choice.

How did you add value to the deal?

I located the contractor and got a total amount I would need to rehab the trailer then I add about 3,000 for overage.

What was the outcome?

I am waiting for the banks response.

Lessons learned? Challenges?

I am never do a rehab with a family nor friends. I will always keep it professional.

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

Banks, I am working with Vystar and NavyFed.