Tarzana condo for the brrr

[Jackson Tyler Hunt]

Investment Info:

Condo buy & hold investment.

Purchase price: $550,000
Cash invested: $16,500

Bought a BRRR as my first investment property. Remodeling it then will rent it out to cashflow. We bought it under market, the owner passed away, and the unit hadn't been updated since it's inception. My goal with this property is hoping that the value add of the remodel, will create good cashflow, while taking advantage of a neighborhood that will have appreciation.

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

Value add/ cashflow/ and hopefully an appreciating neighborhood.

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

Found it on loopnet, and used a realtor. We came in at asking, and beat out cash buyers because the property was under market and under the comps, we didn't want to lose it by trying to be aggressive with negotiations in the hot market we were in.

How did you finance this deal?

conventional