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Updated almost 4 years ago,
5/1 to 3/2 Total Rehab Buy and Hold
Investment Info:
Single-family residence buy & hold investment in Asheville.
Purchase price: $62,000
Cash invested: $30,000
Remodeled a home that was slated for demolition from a 5 bd / 1 ba to a 3 bd / 2 ba.
What made you interested in investing in this type of deal?
Met my ex who was working for another flipper. RE is the ultimate money maker!
How did you find this deal and how did you negotiate it?
At the time, my ex was working for a rehabber who purchased this place and added a roof.
How did you finance this deal?
Primary residence in the days when lending was loose!
How did you add value to the deal?
Total Rehab!
What was the outcome?
Worth $185,000 + today
Lessons learned? Challenges?
Dont make the Taj Mahal in the neighborhood that's just being gentrified.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
ME!