Using the Brrrr method on my 2nd property investment.

[Joseph Lewis]

Investment Info:

Single-family residence buy & hold investment in Fredericktown.

Purchase price: $45,000
Cash invested: $25,000

Owners had tried selling this place and had it under contract and it fell through so they were getting ready to put it on the market and so I made an offer on it.

What made you interested in investing in this type of deal?

Our town is a small town and a new company has came in to mine cobalt which will bring several hundred more jobs to our area and that will cause more people to move here as the cost of living is very low in our area. The need for housing is in high demand here as it is hard to find any available rentals in our area right now.

How did you find this deal and how did you negotiate it?

I had spoke to a friend on the phone on a Friday night who told me about his parents having this property under contract but it fell through so he asked if I would be interested in it so I went and looked at it. We met up the next morning around 9:45 AM for something unrelated and I asked him more about it and he said they planned on meeting a realtor that same morning at 10 AM to try and put it on the market so I made a lower cash offer and they were ready to sell so I was able to buy it!

How did you finance this deal?

Cash

How did you add value to the deal?

By paying cash they didn’t have to wait another month or two to get paid.