Trying the BRRRR Strategy

[Zach Silverman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $36,000

SFR 3/1 B/b with 1,373 sqft.

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

My real estate agent brought this one to my attention. The area was nice for a buy and hold and to work with Section 8.

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

My real estate agent was presented this to her from one of her wholesalers. We were able to lock it up under market and with equity in the property. The owner was going through a divorce and just wanted to be out but also needed a month to get affairs in order. So she paid a months worth of rent before I was able to go in and fix it up.

How did you finance this deal?

Worked with Hard Money again this time doing 80% of the purchase price and $100% of the rehab.

How did you add value to the deal?

It was a very light lipstick rehab.

What was the outcome?

Currently working with PARMA Housing (Section 8).

Lessons learned? Challenges?

Section 8 takes their time.