9024-9026 E. 85th Ter.

Goal

To rehab one unit and prove that we could bump rents by $150/door to $850.

Budget

$20,000

City

Raytown

What we learned

The Takeway:

  1. Persistence pays off in real estate. You never know when you're going to get lucky. We got this off the courthouse steps for just over half of the ARV value.  
  2. Know what the area rental conditions look like for the given area.  You can over rehab unnecessarily and it will take longer to recapture your all in costs as a result.  Thankfully we didn't on this one.  Our rehab paid off by using a formica granite lookalike for half the cost of granite.

This Duplex ended up being a home run from the courthouse steps. We were able to refinance our “all in costs” back out of the property within six months of purchase time.

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