Complete remodel BRRR

[Chad Spanberger]

Investment Info:

Single-family residence fix & flip investment in Fayetteville.

Purchase price: $110,000
Cash invested: $25,000

We bought this property that a guy started to remodel and decided to sell it. We got it super cheap but had to get a construction loan for it because the remodel is about $80,000. We took to the studs, opened the living room up to the kitchen, patched the room, new drive way that can fit 5 cars, and converted the carport into another primary suit. This house will be around 1850 square feet once finished and be a 4 bed 3 bath. This will be another rental for college students and should bring in around $800 a month. We currently own 4 houses on this street and hope to own as many as we can.

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

We were able to get this house for $110,000 when the average price for this neighborhood was the high 200's.

How did you finance this deal?

Construction loan

How did you add value to the deal?

Complete remodel. Added about 200 square feet of living space and another bed and bath.