First totally completed BRRRR

[Eric Prine]

Investment Info:

Single-family residence buy & hold investment in Philadelphia.

Purchase price: $70,000
Cash invested: $30,000

Single family home that we BRRRR'd. Refinanced and left about $10k in the deal. Super successful first BRRRR!

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

this is the kind of deal I'd like to do more of. BRRRR gives us desirable properties that get good rents and should need less maintenance and capx in the first several years.

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

MLS. before you had to pay above asking. those were the days.

How did you finance this deal?

traditional investment loan with a fantastic lender and then refi'd when the reno was complete.

How did you add value to the deal?

redid most of the house without changing floorplan.

What was the outcome?

rented out at the tenth percentile of rents for the area.

Lessons learned? Challenges?

i can't really DIY much of the reno. i don't have time.

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

Me! and Mike Tavani of Guaranteed Rate. He is the best!