Fallbrook CA (San Diego County) BRRRR

[Chris Leso]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $558,000
Cash invested: $140,000

The home is currently being fully renovated. Current photos will not show all new updates and renovations. This home is wonderfully landscaped and great for entertaining. This home sits on over a 1/3 acre and has room for entertaining, children and pets. Long private driveway and two car garage with built in storage. This is a 4 bedroom, 2 bathroom home, located in a quiet cul-de-sac near downtown Fallbrook

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

Great price for the area. Home needed some updating to bring up the value +++

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

Real Estate Agent experienced in working with investors that want to BRRRR.

How did you finance this deal?

Savings and Cash Out from the First BRRRR deal.

How did you add value to the deal?

Re-had Kitchen, bathrooms, flooring, HVAC and paint ($50k)

What was the outcome?

$150K of increased apprised value.

Lessons learned? Challenges?

Time that it takes to refinance and get your money back. You have to wait 6 months from purchase.

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

Yes the Agent was awesome Lacie Moretti at The Roby Company