Springfield Oregon BRRRR on a 1930's Charmer with an ADU twist.

[Josiah Kellerman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $226,500
Cash invested: $75,000

This is a BRRRR Investment property that my wife and I purchased. It met all of our criteria... Which is very rare! One of the biggest things is that it has a detached garage that we can turn into an ADU. It also has attic space that can be turned into a living space fairly easily. Adding the attic space will add almost 400 sqft to the property. In other words, it will add a lot of value to the property. This is our first investment property and we have plenty to learn.

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

Found it on the RMLS and did an escalation clause and got it!

How did you finance this deal?

Private financing from a friend.

How did you add value to the deal?

It is pretty much a 90% gut on this property. But two things we are doing besides updating is adding access to the attic to make it a living space. There is also a 24x24 detached garage on the property that will be turning into an ADU.

What was the outcome?

Still ongoing!