BRRRR using financing to leverage

[Cory Miller]

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $133,000
Cash invested: $75,000

Leverage conventional financing to acquire. Used HELOC on primary for rehab. Did cash out refinance ounce complete. Paid off HELOC and my own money put into deal after 6 months. Needed original loan to mature. Property appraised for 124k more than purchase price on refinance. Booked long term tenant after 3rd month of ownership. Same tenant still in property. Cash flows 736 monthly.

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

Desire for passive income

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

MLS. Built report with Agent. Represented and paid myself in transaction. Perk to being a licensee.

How did you finance this deal?

Convention loan. 15 percent down.

How did you add value to the deal?

Managing Rehab, and knowing my own numbers

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

Yes I’d recommend the lender