Home Set To Be Bulldozed

[Ted Kaasch]

Investment Info:

Single-family residence buy & hold investment in Omaha.

Purchase price: $12,000
Cash invested: $100,000

Using the BRRRR method on this one and with a week left till end of renovating this looks like a home run!

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

I wanted to do one myself.

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

Found through a lead in my group. Negotiated the deal with the owner.

How did you finance this deal?

Paid cash and got a construction loan for a portion.

How did you add value to the deal?

Almost full renovation top to bottom. It needed everything!

What was the outcome?

Mortgage will be about 107,750 and it will appraised for about 145,000. The property should rented 1300-1500.

Lessons learned? Challenges?

Watch who you hire to clean your properties. On this one my cleaning crew took all of my metal! Also check the roof and see what all it will need don't assume. My 6k roof turned into 13k real fast!

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