Old Town Frisco Historic Rehab

[Nick Brown]

Investment Info:

Single-family residence fix & flip investment in Frisco.

Purchase price: $300,000
Cash invested: $350,000

House predates Frisco when it was originally called Emerson. Built in 1902 by Dr Rogers who became the first Mayor of Frisco in 1908. A lot of work on this one. Foundations right to the roof. Everything is being fixed and repaired. Pictures are work in progress. Hopefully complete in March/April

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

What a real challenge but also restore a historic house and prevent its demolition

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

It was actually on MLS

How did you finance this deal?

Private money and Self Directed IRA

How did you add value to the deal?

It was a complete gut so everything we did was adding value

What was the outcome?

Completed the outside and sold just before starting the inside to a person who wanted their own touch.

Lessons learned? Challenges?

make sure i get compensated for the tenants still in the house for the first month.