Latest completed Project

[Kris L.]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $176,228
Cash invested: $65,000

BRRRR project with appreciation focus.
Bought Dec 2020. $65k in renovations including all holding costs. Rented and refi in July 2021. $35k left in the deal with essentially $0 cash flow.
No cash flow, but appreciation is through the roof.

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

Appreciation and close to other properties.

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

Found via yard sign. Offered asking before it hit MLS. Negotiated lower based on inspection due to foundation issues.

How did you finance this deal?

Cash for purchase, private money for renovations, cash out refi at end.

How did you add value to the deal?

Foundation repairs, redoing master bath, drywall, flooring and other cosmetic updates.

What was the outcome?

Left $35k in deal, but property has appreciated about $100k since refi.

Lessons learned? Challenges?

Painting a house takes a lot of hours. Good experience to DIY, but will hire it out on future projects.

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

I wish I could recommend the lender, but I felt they made it a lot more difficult than needed.