The Mini Biggie House

[Shaniqua Dupree]

Investment Info:

Single-family residence other investment.

Purchase price: $165,000
Cash invested: $40,000
Sale price: $250,000

I did the BRRR Method on this property. I lived out of state for the majority of the time that I owned this property. It started off as a 3 bedroom 2.5 baths with a full basement. I renovated it into a 5 Bedroom with 3 full baths. I rented out the top Unit and 2 rooms to 2 seperate tenants in the walk basement apartment.

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

I was looking for a place that best fit my family.

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

I went through an agent and talked to Navy Federal about Refinancing options. Turns out I was SUPER lucky to have gotten a traditional refi with them within months of purchase. But that's a story for the forum.

How did you finance this deal?

Traditional 30 Yr Mortgage and HELOC.

How did you add value to the deal?

Added partition walls to create seperate bedroooms, pained cabinets, updated paint, added walk in shower, pantry room, basement kitchen.

What was the outcome?

This was a tough property because life happened and I ended up working with shady people. Good news I asked away with more cash than I expected. 😁

Lessons learned? Challenges?

TRUST YOUR GUT EVERY TIME! Something told me to not work with these guys. Their work wasn't even that great at their own house. I didn't listen and it caused much stress. I did face foreclosure at one but my military service thankfully covered that. Being out of state was super hard. Being out of the country was even harder.

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

I did work with some folks that were great.