First Investment Rehab Project in TX

[Jeremy Albright]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $82,500
Cash invested: $18,000

1340 SQF Modular home that has been abused for many years. We are doing a complete rehab on this project, doing the work ourselves. Will update with pictures when they are available.

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

I am able to do much of the work myself and love to turn rundown properties into useful, cash flowing monsters!

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

I got this deal from a coworker and we negotiated the seller finance terms over dinner and drinks.

How did you finance this deal?

Seller Financing

How did you add value to the deal?

Complete Rehab - Cosmetic as well as new subflooring in areas with significant water damage.

Lessons learned? Challenges?

So far, ask questions and negotiate better terms clearly and openly. I simply asked for a lower down payment and better interest rate and received both with little issue.

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

No.