Crosby Rental Property Rehab Underway

[Jason P Gerke]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $88,000
Cash invested: $95,000

3 bdrm, 1 bath house on two lots
Carport, well, septic and outbuilding
1960s share-croppers house located blocks away from busy intersection in fast growing neighborhood

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

Investing for long-term rental income/cash flow

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

realty.com

How did you finance this deal?

cash

How did you add value to the deal?

Rehab is underway. Cosmetic upgrades including walls, floors and electrical outlets. Treat well and plumbing system.

What was the outcome?

Putting up for rent now.

Lessons learned? Challenges?

Testing was done on septic but not on the well. In the future have the water tested and well inspected.