Jamestown BRRRR (our last)

[Annie Johnson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $43,000
Cash invested: $63,000

Bought this Cape Cod Style single family home in November with Cash. Paid out of pocket for the rehab. Was hoping it would be a quick and cheap BRRRR. But learning there is no such thing. To rehab we repaired the roof, added a bedroom, painted, remodeled a bathroom and kitchen, had foundation and electrical work done and fixed a back deck! This home came with 4 extra vacant lots we don't have plans for now but hope to sell in the future. Thanks for reading!

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

Easy Rehab

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

Cash and put in first offer

How did you finance this deal?

Cash on hand

How did you add value to the deal?

New flooring, lights, paint and remodeled bathroom and kitchens. We were also able to add a bedroom.

What was the outcome?

higher rent than expected but also longer and more expensive rehab than expected too.

Lessons learned? Challenges?

Stop out of state investing and find local deals

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

Rick McMahon Realtor