San Antonio, TX Case Study
Before
After
Purchase Price: $101,000
Renovation Cost: $40,000
Sales Price: $220,000
After Repair Value: $203,000
About The Project
This discovery of this property started with the help of Central Texas Loan Consultant Jade Florez. She took her pre-approved borrower, got an understanding of what the borrower was looking for in an investment property, and then made the connection between the borrower and one of the many wholesalers in her network. Ultimately, the wholesaler presented the borrower with this property and the rest was history. The cash to close on this deal was amazingly under $7,000 dollars to the 100% of purchase and renovation provided by Longhorn Investments on this deal.
Roadblocks and Solutions
The property was in terrible condition when the borrower purchased it. Not only did parts of the house appear to be ignored for an extended period of time, but it was a hoarder house, as well. In addition, the borrower realized when taking down a wall that the electrical was an older system so ended up replacing it. They had strong liquid reserves to be able to handle the kind of surprises that often happen when renovating a house. While those challenges could intimidate some investors, the financial support of the Longhorn program provided the borrower the resources to rehab the property appropriately without taking any shortcuts.
