First fully renovated single family house

[Thomas Klein]

Investment Info:

Single-family residence buy & hold investment in Fort Lauderdale.

Purchase price: $215,000
Cash invested: $85,000

Property is within walking distances to downtown Fort Lauderdale. Property was full rehab to studs and concrete.

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

The location and the fact that the property is zoned for a duplex for future development.

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

I saw this property for sale five years ago and wanted it. Seller was not willing to negotiate. Five years later it happened.

How did you finance this deal?

I used two HELOCs from two of my other rentals.

How did you add value to the deal?

Complete rehab.

What was the outcome?

It’s rented and awaiting refinancing.

Lessons learned? Challenges?

A lot!!! Just ask!!

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

Shirley Klein Realtor 9544489088
Space Coast Credit Union

[Nathan Olds]

Congrats, Thomas! I hope the rehab is moving forward and going well.