Another Successful BRRRR

[Matthew White]

Investment Info:

Single-family residence buy & hold investment in Warner Robins.

Purchase price: $85,000
Cash invested: $95,000

I purchased this Single Family Home in Warner Robins through a wholesaler that I first located on Bigger Pockets Marketplace. On paper the ARV of this property is approximately $125k, but I was able to purchase the property for $85k plus closing costs.

I estimate that I will need to put approximately $20k into renovations (there is a serious plumbing problem, the roof and HVAC need love.) including dressing up the landscape.

Once rent ready, average rents for the area are in the arena of $1200/month. Upon 6 month seasoning, I plan on refinancing the majority of my cash out.

Once we are stabilized, I will update the performance of this asset.

UPDATE: Currently this property is rented for $1395/month on a 12 month lease. And as of today, I just cashed out financed this property. After the "re-fi" I have $0 in this property and I cash flow approximately $300/month after all expenses including PITI, CapEx, Repairs and Maintenance, PM, and Vacancy.

Not Too Shabby