BRRRR /House Hacking

[Marisa JManker]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $15,000
Cash invested: $30,000
Sale price: $185,000

I Bought this home as a Rental In 2014 for $15k WE moved In 2 years ago and we started rehabbing In the last year. Then we did a cash out Refi and In return we gained $185k minus $30k with a total profit of !$144k cash out last Month ! This Is our first BRRRR ! and It Is our Primary residence. Our intrest rate Is 2.99% giving us a Mortgage of $1098. Then rented out our Basement 1 Bedroom to our son for $500 a month and A Daughter who rents for $350 a month bringing our total mortgage payment to $150 ! Biggest profit Ever ! If you want to know how we did It reach out.

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

The reason I did this type of deal Is Because My sister Is an Investor she went from Chicago Police for 12 years to now full time Investor at SAMM LLC Investors her own company.She has bought her first three homes and did this method and It always worked ! Then she used that Money to finance and flip many more homes. My sister Is my Mentor and showed me how I can use my own home to do the same exact thing. I have tranined with my sister for over 10 years now.

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

This Deal was actually a Short Sale through Chase In 2014 ! Most Ivnestors wont touch a short sale because of the wait! But we were able to close In 2 months with already paying Tenants ! IT was well worth the wait.

How did you finance this deal?

No ! Financing My husband and I paid $15 cash !

Lessons learned? Challenges?

Lessons learned study your Market for best returns and keep multiple crews around

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

Yes agents and Rocket Mortgage ! Is the best with cash refi out ! Great Customer Service and smooth process