Roxborough 2 Bed, Relatively Cosmetic Rehab
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.
- Ryan McLaughlin
