Newest addition to our portfolio

[Jason Hamilton]

Investment Info:

Condo buy & hold investment.

Purchase price: $80,000
Cash invested: $20,000

This one was fun. Hoarder house that needed all new flooring, new paint, new vanities, new kitchen. Had 11 days to complete/

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

These condos are selling for $95k-$103K and we just couldn't pass the deal

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

Listing agent did not want to deal with the sellers stuff in order to list it. Called knowing that I am an investor.

How did you finance this deal?

25% Down

How did you add value to the deal?

Did a complete remodel and did all the work myself

What was the outcome?

Rents for $900

Lessons learned? Challenges?

Do not be scared of a disaster of a house, I have the ability to do it.

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

My usual team
Heather Stepp - Keller Williams
Anne Cato - Towne Bank
Gus Roberson - CAP Company (insurance)