2nd BRRRR Using the cash from the first BRRRR

[Adri Jusczak]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $66,000
Cash invested: $15,000

2nd BRRRR investment property. Just closed 12/6/21. I'll fix it up over Christmas and hopefully be ready for a refinance first part of the year and get tenants in there.

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

I had refinanced my 1st BRRRR and the appraisal came back about 10k higher than I had expected! I just used the cash from that refinance to purchase another property and keep the cycle going.

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

This was on Redfin. It had been on the market for a while and I came in with an all cash offer.

How did you finance this deal?

All cash from private money lender. I will refinance in January/February.

How did you add value to the deal?

I will finish half the basement, turning it into a 3/2. Also just cosmetic finishes around the house to make it rent ready.

Lessons learned? Challenges?

This is my first rehab while being out of state. It'll be an interesting process going forward!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My agent was amazing! Danielle Moldenhauer.