Roxborough 2 Bed, Relatively Cosmetic Rehab

[Ryan McLaughlin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $172,000
Cash invested: $45,000

Currently rehabbing this old smokers house. I know you've heard of popcorn ceilings but have you heard of popcorn WALLS?! Let's just say I probably got mesothelioma from this one. Should be on the market for 11/15 move in if I can get my rear in gear!

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

This one is a block from my house. It's only 890 sq ft and I like the simplicity it offers.

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

A neighbor received one of my postcards.

How did you finance this deal?

Conventional, 15% down.

How did you add value to the deal?

Full cosmetic rehab and hardcore "de-smoking."

What was the outcome?

Should hit the market in 2 weeks. Plenty of meat on the bone with multiple exit strategies.

Lessons learned? Challenges?

Hire it out. You're losing more income than you're saving doing it yourself.