BRRRR in Hayden Idaho

[Jo Turner]

Investment Info:

Single-family residence buy & hold investment in Hayden.

Purchase price: $215,000
Cash invested: $25,000

Right place, right time. My business partner Nick Beveridge was offered this opportunity from a wholesaler. The owner lived out of state and didn't want the hassle of listing it or kicking out the tenant. I paid 215k using hard money, spent 25k in renovations, and completed the refinance 6 months later. Successful BRRRR :). It didn't cash flow at first but was essentially a free house with the PITI $1742 and rent at $1700. Recently (Oct 2022) the tenant moved out and the new family is paying $2150/month so now it does cash flow a few hundred dollars - yay! Here's the new description: Completely remodeled 3 bedroom 1 bath home on an enormous 0.34 acre lot in Hayden. Amazing fenced backyard with fire pit and plenty of room for RV parking. New luxury vinyl plank floors, new carpet, new kitchen including quartz countertops and stainless steel appliances. Quiet neighborhood with no HOA.