Brrrr Project Gone Right!

[Anthony Cross]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $135,000

This 4 bed 2 bath house was in shambles. 135k purchase prices with 45k in rehab, refinanced with 10k cash to invest in the next place after the 80% LTV. This one is now rented and have $0 into it.

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

The potential for a cash out return after a n % LTV

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

Found it by seeing signs of vacancy and reaching out to the owner on Facebook. Started the negotiation process and ended up settling at a good price that worked for all.

How did you finance this deal?

Used cash up front and then refinanced it to a commercial loan.

How did you add value to the deal?

Lots of elbow grease for the rehab.

What was the outcome?

No money return on investment after refinanced.

Lessons learned? Challenges?

It takes persistence to get things done. Rehabbing this place was very challenging because of the supply chain issues we ran into.