Killer Cash Flow Student Rental

[Wesley Pittman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000
Cash invested: $190,000

BRRR'd a dilapidated home into a college rental. Converted it from a 4 bed / 2 bath into a full permitted 6 bed / 3 bath with double appliances throughout.

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

Phenomenal cash flow. Kicks off over $24k/year in free cash flow with low maintenance as a long-term rental.

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

We got the lead directly but another wholesale was working it too so to sew good will we let them contract it and then closed it.

How did you finance this deal?

Hard money (Civic Financial) and gap funding with private investor

How did you add value to the deal?

Rebuilt the whole place - like everything. Roof, sewer, siding, insulation, converted two car garage into fully permitted living space per 2018 International Residential Code, new kitchen with double appliances, increased bed count by 2 and increased bath county by 1.

What was the outcome?

Phenomenal student rental