BRRRR added to the portfolio

[Adri Jusczak]

Investment Info:

Single-family residence buy & hold investment in Albert Lea.

Purchase price: $66,000
Cash invested: $3,000

Refinanced and it appraised for 84k! I received a check back for 61k. I cash flow $320 monthly and have a 980% CoC ROI!

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

I wanted to add to the portfolio.

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

This was on the MLS for a while, the seller was cash poor and wanted out.

How did you finance this deal?

I paid in cash and refinanced 3 months later.

How did you add value to the deal?

I bought it with equity built in. I did a deep clean, added some paint, and put in a radon mitigation system.

What was the outcome?

I added a house to my portfolio with minimal time and money invested!

[Adri Jusczak]

@Lucas Miles Thank you! Looking for another SFH next, hopefully putting an offer over this weekend at a place I'm looking at. Then I am looking to scale to MFH after Q1!