My first ever BRRRR - Deal #7

[Matthew Delapiedra]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $200,000
Cash invested: $300,000

Did someone say BRRRR?
Super excited for my first BRRRR property I am adding to the portfolio. A wholesaler colleague of mine sent over this deal to me at 229,000, I was able to walk away with the contract at $200,000. I’m going to be putting in just a little north of $100,000 into this project while adding 500 ft.². Should be able to bring the value north of 550 K, going to lock in the lease of 2400 minus and refinance the property at least that’s the plan.

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

Honestly, anything real estate interest me right now primarily residential because that’s what I mainly focus on and I know the most about. I am open to networking with anybody and doing any deal. That makes sense. This deal seems like a no-brainer to me. I’m going to be able to increase the value through the roof with work of my contractors pretty easily.

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

A buddy of mine has a wholesale business here in the valley he sent it over to me.

How did you finance this deal?

Cash

How did you add value to the deal?

We’re bringing the property down to the studs, adding 500 ft.² of addition in the back, and a full overhaul of the entire property.