Another BRRRR, Another "Free" Property

[Blake Edwards]

It's still a surreal feeling when you do your due diligence, research and run numbers correctly and get a check back for the exact amount you put in.

We found this one from a Wholesaler in the area and we jumped on it.  Older individual owned it and let it go.  We put in new flooring, paint, updated bathrooms, tore down the detached garage and installed a new carport.

St. Louis MO (2 Blocks from Carondelet Park)

Purchase Price - $55k

Rehab - $40k

Closing Costs (Including down payment) - $13,131

Appraised - $145k

All In - $95k

Rent - $1200

Refinanced and pulled out $13,200

Cash out of Pocket - $0

Cash Flow - $295/month