Work in Progress for the Fall Semester

[Billy Daniel]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $42,000
Cash invested: $11,000

Just got this bad boy under contract. Wanted to get the before pictures posted now before the fun starts!
Details:
4 bed, 1 bath house about two blocks from a University. Just under 1900 sq ft. We will be adding 1 or 2 bathrooms, improving the layout of the bedrooms, and completely redoing the interior. The front porch will be opened up and the exterior will have all rot repaired and completely repainted.
Stay tuned!! Looking at completion in time for the fall semester!

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

Taking these homes that have been left for dead and bringing them back to their glory days is very rewarding!

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

Local MLS. The seller was done with squatters and didn't have the time to do the work. Negotiating was a breeze!

How did you finance this deal?

Commercial loan: 4.1%, 20 years

How did you add value to the deal?

Past experience with this exact process! This house is luxury compared to our first!

What was the outcome?

Stay tuned.....

Lessons learned? Challenges?

Without a doubt, just haven't discovered them yet!

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

My wife was the agent I used. She's ok....lol