Almost a BRRRR

[Eric Prescott]

Investment Info:

Single-family residence buy & hold investment in Cleveland Heights.

Purchase price: $120,000
Cash invested: $26,000

SFR was mid-rehab when the owner, who had been working at it for a while, put it up for sale. Purchased for $120k on 5/2/23, rehabbed it with my local team, and my property management company leased it out on 7/31/23 at $1,875/mo.

How did you finance this deal?

Hard money - Freedom Capital Funding, Alex Crivelli. This has gone very smoothly from beginning, with very quick draw turnarounds. Keeping the loan for a bit until ready to utilize the cash out from a refi on another investment, since we still have many months left on this loan and it cash flows about $200/mo more until we do the cash-out. So the last R in BRRRR does not yet apply...

[Michael Smythe]

What Class of property is this?