308 Cree Road BRRRR Strategy

[Joey Critch]

Investment Info:

Mobile home buy & hold investment.

Purchase price: $201,500
Cash invested: $10,075

This property was listed on the MLS and we have caught this before it was listed but as it was a foreclosure we had to wait 1 week before putting in an offer. we ended up going back and forth 3 times before settling on a price. This property was distressed and needed roughly $10,000 in repairs (mostly cosmetic) and we will be upgrading parts of the home to upgrade the value.
$201,500 purchase price
$10,000 estimated repairs
$10,075 Down payment
$310,000 ARV
$2400 Projected rent
$500 cashflow.

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

it was extremely under values as it was a foreclosure and distressed.

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

we went back and forth 3 times with the negotiation process

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Upgrade Bathroom, Kitchen, Flooring, Roof.

What was the outcome?

In Process