Anne Lackey Buy & Hold Deal

Buy & hold Details

Property City: Buford
Purchase Price: $27,500
Repair Costs $22,000

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Case Study

How did you find and structure the financing of this deal?

We found it on the MLS. We used a private money lender & purchased the property in Mark's ROTH IRA.

Provide a summary of the repairs and improvements you made to the property.

Changed the exterior porch, new flooring, redesigned the kitchen & baths, added a fireplace, changed out the flooring, painted interior & exterior.

How did you find a buyer for the property if you sold it?

We never sell them, we keep them forever! We collect houses like most women collect shoes!

What are some of the major lessons learned that you would like to share with other students that they can learn from?

This project went on too long. I got lazy and didn't manage the contractor as such, the project went longer than expected and increased holding costs. Always do a project plan and hold the contractors responsible for the timeline established.

Before & After Photos