Brrrr on a cosmetic rehab

[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 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.

How did you finance this deal?

Cash

How did you add value to the deal?

I updated 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.

What was the outcome?

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.