Downtown Beauty in Conway

[Cory Cox]

Investment Info:

Single-family residence buy & hold investment in Conway.

Purchase price: $90,000
Cash invested: $5,000

Single Family Home near Downtown Conway. This house was a pretty simple one and went very easily. The bones on the place were all in great shape but just needed to be updated. New paint, flooring, counter tops, appliances, etc. I was able to get the rehab on this done in a little under 9 weeks and get it rented pretty quickly. There are beautiful hardwood floors under the LVP flooring and once I decide to sell, I will most likely give the buyer the option on what they want to do. Awesome house!

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

I had just finished a great duplex and I had the itch! This one was perfectly located close to the downtown area as well as positioned within a mile of the 3 major universities in town. It has a large shop in the backyard that I will eventually finish out real nice into maybe a mother-in-law's quarters once I decide to sell. Great cash flow.

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

Agent referred this to me from one of his friends that was needing to sell.

How did you finance this deal?

Construction Loan - Bank. Purchase/Repairs

How did you add value to the deal?

Just a solid update throughout. The bones on it are in real good shape so it's just a matter of bringing it up to date and making it shine!

What was the outcome?

Great outcome. Happy with this home and this will be a fantastic sell down the road. I have honestly thought extremely hard on moving into this place but I like the cash flow too much. It will be a nice home for many years/people down the road.

Lessons learned? Challenges?

This one went extremely smooth actually. Cute little house.