First deal! (BRRRR in South Side Columbus)

[John Mullen]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,000
Cash invested: $30,000

Contributors:
Mike Pauze

Still in process of rehab. Intention is to evaluate best option between STR/MTR upon rehab completion and refi.

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

BRRRR strategy self-education.

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

Realtor (thanks Teri Gilmore!)

How did you finance this deal?

Hard money.

How did you add value to the deal?

Tore out back wall to better integrate addition and create open floor plan, redoing all cosmetics and updating kitchen/bathrooms.

What was the outcome?

In process but going well.

Lessons learned? Challenges?

Structural rework is complex.

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

Adam Messmer, Teri Gilmore.