SFH in East side of Troy

[Alison Walden]

Investment Info:

Single-family residence other investment.

Purchase price: $55,000
Cash invested: $130,000

Cute bungalow. Have multiple exit strategies.

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

complete gut, wanted to learn and not lose money.

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

MLS

How did you finance this deal?

cash

How did you add value to the deal?

added 2 bedrooms and 1 more bathroom.

What was the outcome?

Not sure yet! Don't want to sell it--perhaps short term furnished rentals for corporate housing, nurses, etc.

Lessons learned? Challenges?

File permits early. Prepare for worst case scenarios and budget accordingly. Complete gut jobs are time consuming--perhaps this would have been better of as a flip--keeping it as a possibility.

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

I was the agent on the deal!