Investment Info:
Townhouse buy & hold investment.
Purchase price: $180,000
Cash invested: $80,000
townhome buy fix and hold
What made you interested in investing in this type of deal?
Close to home, reasonable price, needed work done
How did you find this deal and how did you negotiate it?
The townhome is next door to my home
How did you finance this deal?
Family member invested part of the money in it.
How did you add value to the deal?
We replaced the floors, updated the kitchen, replace plastic bathtubs with tile and frameless glass doors in all the bathrooms, and closed the screened porch to add a master bedroom W/M bathroom and closet.
Added a dwelling under the new master bedroom kitchen and new deck
The townhouse had an original 1323 sqft with the addition came to a total of 2000 sqft.
What was the outcome?
Good rental property with two income source
Lessons learned? Challenges?
All work was done by me it was too large of a project the house stayed empty for too long.
1.-For future projects, I will outsource some of the workloads.
2.-finish the house first and then focus on renting the main house to work on the additions while rented.
