Pocono mountain BRRRRSTR

[Eric Prine]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $100,000
Cash invested: $30,000

This is our first BRRRRSTR. The property is in the Poconos and will be our first STR up there. The reno should finish by the end of summer, at a cost greater than the purchase price. Also a first for us. I'll keep you posted.

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

We want to grow our STR portfolio but love the BRRRR strategy.

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

Using a great agent in the Area, Melissa O'Connor. The deal had been sitting on the market for a long time and we put in a low offer. When we had the inspection we discovered there were major structural issues so we were able to drop the price even more.

How did you finance this deal?

Hard money.

How did you add value to the deal?

it is currently getting a full rehab.

What was the outcome?

TBD.

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

Melissa O'Connor of Compass was fantastic. and we're working with Rehab Financial Group for the first time and it's going well so far.