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Updated over 2 years ago on . Most recent reply

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5
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Harry Feng
8
Votes |
5
Posts

Brrrr on a cosmetic rehab

Harry Feng
Posted

Investment Info:

Single-family residence buy & hold investment in Kansas City.

Purchase price: $125,000
Cash invested: $155,000

I bought this 3b2b townhouse that need minor repairs for $125K cash, I put 30K into it by updating new flooring, paint, kitchen, and bathroom cosmetics, I converted the family room in basement into a 4th bedroom to increase rent. I put new stainless appliances inside too. I rented property out for $1,600 per month. 6 months later, the property was appraised for $178K so I was able to pull $132K of my original capital out. I left $23K into the deal and currently have monthly cash flow for around $300 dollars. Overall, an OK Brrrr considering it is my first one.

Most Popular Reply

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3,673
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3,452
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Steven Foster Wilson
  • Rental Property Investor
  • Columbus, OH
3,452
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3,673
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Steven Foster Wilson
  • Rental Property Investor
  • Columbus, OH
Replied
Quote from @Harry Feng:

Investment Info:

Single-family residence buy & hold investment in Kansas City.

Purchase price: $125,000
Cash invested: $155,000

I bought this 3b2b townhouse that need minor repairs for $125K cash, I put 30K into it by updating new flooring, paint, kitchen, and bathroom cosmetics, I converted the family room in basement into a 4th bedroom to increase rent. I put new stainless appliances inside too. I rented property out for $1,600 per month. 6 months later, the property was appraised for $178K so I was able to pull $132K of my original capital out. I left $23K into the deal and currently have monthly cash flow for around $300 dollars. Overall, an OK Brrrr considering it is my first one.


 Great job Harry! If you did not lose money that is a job well done, especially for your first one. 

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