Cranes Landing Repair and Renovation

[Raymond L Tennal Jr]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,000
Cash invested: $40,000

Converting to Air BNB

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

I saw what it would take to repair and the potential it had. Best decision ever.

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

Well, it started as a joke. Then the owner contacted me month later. I call it a deal of a life time.

How did you finance this deal?

Conventual

How did you add value to the deal?

sweat & time. Time was the payoff.

What was the outcome?

That is still to come. but I was able to pull some equity out and invested into crypto. Now, if I am smart, i will pull some to this out in the winter of 2021-22 and buy a multi-family property.

Lessons learned? Challenges?

It takes money to make money

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

No... bought off market.