This was my FIRST BRRRR!

[Allie M. Stanisel]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $250,000
Cash invested: $60,000
Sale price: $455,000

I purchased this property cash from a wholesaler. Invested about $60,000 into updating the mechanicals and minor interior upgrades. This was my first BRRRR! I refi-ed the property for $390,0000 - used the $140,000 to buy a triplex.
And I still profited $75,000 on the sale. Plus cash flowing $600+ per month even AFTER the cash-out. Solid deal.

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

The layout of the home was perfect for a conversion into a duplex. The original plan was to make it a multi-family property but in the end used it to 1. buy a triplex, 2. collect rental income every month, 3. 1031 exchange into a NNN lease property.

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

This deal was brought to me by a wholesaler who had already negotiated with the seller. Easiest deal to close on.

How did you finance this deal?

All cash.
Then a cash-out refi after the property was stabilized.

How did you add value to the deal?

New HVAC, pulled natural gas to the property, remodeled one shower, refinished floors, and added a tenant.

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

MYSELF!!!!!
Allie M. Stanisel
Multifamily Investor and Realtor
Oregon and Washington
503 701 8732