First Post, First BRRRR, Kansas City, MO

[Johny Omaga]

This post will serve both as an introduction and as our first BRRRR post.

My name is Johnny and my partner's name is Johnny also. After reading David Greene's "Long-Distance Real Estate Investing" and months worth of roaming around biggerpockets we decided pull the trigger on our first BRRRR project. We bought 2 other properties in Kansas previous to this home that were turn-key and rent ready. Had we read David Greene's book and done more research on Real-estate investing we wouldn't have bought those properties but nonetheless they are still cash flow positive rentals.

We are out of state investors from California and chose Kansas City for multiple reasons. Not only are prices of homes drastically cheaper than California, a good frie

nd of mine is a real-estate agent there so we decided to give it a shot.

Anyways. This home was in pretty bad shape. 2 Bed 1 bath 988 Sq feet in a B-C+ area of Kansas. Foundation needed repairs, it had fleas, garage door was damaged, all windows needed to be replaced. Clearly needed a lot of work but had decent comps in the area. After a few days of haggling with price we were able to close an all cash deal after 2 weeks. 

Before photos:

rehab photos:

After repair photos:

Recap:

This project took roughly 2 months after escrow closed. We added an extra bed room, moved over the washer and dryer and took down a wall to make it an open space for the kitchen. Porch was redone, tree was removed and mulch was added to the front. Vinyl throughout the exterior. Tiles in the kitchen, carpet in the rooms. Most of the colors and accents were chosen by our friends and families who voted on instagram and facebook. It is very difficult to not go overboard with the repairs and keeping them within reason of the neighborhood. 

The numbers:

(will be updating this soon)

As of today It has been on the market for rent for 4 days. Lots of interest and 5 showings so far. We plan on refinancing with a portfolio loan because the seasoning period with our bank is 6 months and we do not want to wait. We have moved on to our 2nd project, our first foreclosed auction home. Posts of this project will come soon!

We are very proud considering this is our first BRRRR project with zero experience. We believe both our agent and contractor are rockstars. We would appreciate all comments and opinions!