My First Rehab finished--Arlington VA

[Nick Mullen]

Hey All,I just completed my first remodel on a 2B/1.5Ba in Arlington VA! Here's the bullet points:

Purchase Price: 370K

10% downpayment

Seller financing at 2% ammort over 30 years, ballooning in 2. I get traditional financing after that

I Invested 75K into the rehab, which turned the unit into a 3B/2.5Ba

ARV is +-475K

It is renting at $2900/month

I think I got a great deal on the purchase of the property, and and hopeful to find the next deal soon. Perhaps this will eventually be a BRRRR property. I'm not quite sure yet. I welcome any questions comments feedback or the like.

Thanks! I'm so happy BP is here

Cheers, 

Nick

[Nick Mullen]

Thanks for the responses all. @Mike Warder It is in the Bedford Park townhouses on Near Washington blvd and 50. I have known the seller for a few years as his bartender and it never went to market.

@Brian Garrett  I waffled back and forth, but decided to keep the property as I put too much time into the place and its turnkey at this point. The property is very close to my residence and its easy to manage.

Thanks @Grant Rothenburger