Pittsburg, CA

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Lorraine Ave.

Pittsburg, CA 94565
Short-Term Hold
ROI: Infinity

We purchased this home from an out of state owner for $26,000. We spent $100,000 on the renovations.  We borrowed the $125,000 from a Private Lender at 10% int. only for 1 year. 

We cashed out our lender at the end of the year allowing him to loan it out again. We refinanced with a conventional bank loan at 4.95%.

Rental income was $1535/mo.  Debt service & Exp: $908.52/mo. Net Cash flow was $626.48/mo. $7517.76/yr. We sold the asset in 2015 for $307,500.  Outstanding debt was $87,574, Fees and Commissions were $18,742. Net Profit was $201,184.

Kevin Waltermire