BRRRRing a House in West Chester, PA

[Rob Lawrence]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $450,000
Cash invested: $60,000

Working on the rehab right now, but expect it to be worth around $700k when complete. Planning to rent it out, but I may flip it.

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

This house was in my neighborhood and the same exact reno as my current house.

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

It was on market with multiple offers, but I gave good terms.

How did you finance this deal?

HELOC and a normal mortgage

How did you add value to the deal?

Did an extensive renovation, removing walls and changing the kitchen.

What was the outcome?

Still working on that

Lessons learned? Challenges?

Just a lot of work right now. I am always too optimistic.

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

I was my own realtor on it. But yes, I recommend working with me.

[Kevin Sobilo]

@Rob Lawrence, what do you expect that to rent for? What is your expected cash flow after expenses and also budgeting for cap ex, maintenance, vacancy and possibly property management?