Problem

Find an investment property within the buyers budget, but also provide positive cash flow. The search was beginning in the height of covid and the real estate boom.

Strategy

Find a less desirable property to ‘force equity’ through renovations and avoid a bidding war, which would erode the return on investment.

Solution

Found a property that was “land value only” with a foundation wall problem. Everyone was afraid to tackle this property. It needed to be stripped down to the studs, and the whole North side wall need to be re-bricked after repairing the foundation. Once complete the house was a beautiful legal duplex. The owners decided to sell after a few years. It went from the cheapest/worst house on the street and to this day it is the highest sale price home on the street.