My first personal real estate investment project
Investment Info:
Single-family residence fix & flip investment in San Antonio.
Purchase price: $83,000
Cash invested: $8,000
My first personal real estate investment project. A full rehab fix & flip in the heart of the Lone Star district, downtown San Antonio.
Currently on-going, I will update this post when we are finished!
What made you interested in investing in this type of deal?
I love the downtown area, and I like full rehabs. Some consider heavy rehabs to be a bigger risk, to me it's less risky, just more hands-on management. I also live less than 5 minutes from the property.
How did you find this deal and how did you negotiate it?
I bought it through New Western Acquisitions. There was no negotiation. It was already a roughly 67% fix and flip deal in the heart of a booming city.
How did you finance this deal?
A hard money loan from Searchers Capital. They are my go-to lender for customers of mine, so it was a no brainer to use them on my own project.
How did you add value to the deal?
By fully renovating the property. Really the only thing we are saving is the basic structure and some internal framing, everything else is brand new. We are doing top of the line finishes for the area including a standing seam metal roof, paved driveway, and an attached deck at the back of the house.
What was the outcome?
TBD
Lessons learned? Challenges?
So far no major issues. My business partner is the GC. We have been extremely proactive in taking care of minor issues as they arise.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am the agent on it since this is my deal. Matt Janner of Searchers Capital is certainly someone I would recommend for hard money loans in central Texas. I would also recommend the company I work for, New Western Acquisitions for finding such a great deal.
Most Popular Reply
Congrats @Stone Saathoff! I can't wait to see how it turns out.