MY FIRST BRRRR STRATEGY

[Christopher Garcia]

Below you will find some details of my first BRRRR strategy. As of right now everything seems to go very well and we are expected to start the refinancing process within a week or so.

My partner and I were able to get this deal with a whole-seller 6 months ago. Both of us are real estate agents and have experience in rehabbing. We combined our team and within a week the rehab was done. The rehab consisted of replacing the roof, changing the floor, doing a new kitchen, updating bathroom vanities, and painting the entire house. 

When we purchase the house it was already rented with a good tenant so we rented a hotel room for a week that way we could rehab the house and after we were done they went back home. 

Very excited to see how much the house will appraise for. I look forward to announce the great news in the next couple of weeks. 

If anyone has experience in mortgage and financing, I would like to know if it is necessary to wait 6 months to do the financing. 

Purchase price: $230,000.00

Down payment: $50,000.00

Rehab Cost: $25,000.00

Estimated ARV: $320,000.00 - $350,000.00