Brownwell

Innovative Equity offered this small fixer-upper for sale for just $25,000 cash. Brent Sobol constantly looks for good rental properties with positive cash flow and upside potential. While working in another career full time, Brent says of Innovative Equity that he “appreciates them bringing me the deals and offering them at a very good price.”

Granted, this little house needed almost $18,000 in repairs, it did have fantastic potential. Within 10 days, Brent buys the home and is ready for fixup. His reputable team of contractors comes in and has the whole house redone in less than 2 weeks! As you can see from the pictures above, the house comes a long way in 2 short weeks. Brent’s strategy on this particular deal is to renovate the home, refinance, and then hold for a long term rental. This home appraises at $77,000 after the work is completed, and Brent has only $43,000 (after repairs) in the house. Because he is only at 55% of the loan to value on the house, his interest rate and payments are very reasonable. Brent now owns a home that has $34,000 in equity, and will cash flow every month. The home is currently rented to the long-term (now 6 years) tenant who is ecstatic about the superb renovations. Great Job Brent!

 
Contact Us
Stokely Weinberg
Phone 678-640-0127 stokely@innovativeequity.com