BRRRR at 20 yo

[Alan Thach]

Investment Info:

Single-family residence hard money loan investment.

Purchase price: $225,000
Cash invested: $50,000
ARV: $450,000

My first investment property at 20 years old. I decided to pursue the BRRRR method. It was the most life changing event of my life and I learned so much about the business of Real Estate.

HML with construction, $225,000 + 50k construction loan

All in $275,000

ARV 450,000

75% cash out new loan was $337,000

Cash out $50,000 after fees.

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

Financial Freedom

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

Great grandma passed, family was going to sell, convinced them to let me buy it.

How did you finance this deal?

HML, had to raise over 40k from family and friends for intial dp/reserves

How did you add value to the deal?

Sweat Equity, appreciation also helped during 2021/2022

What was the outcome?

Check with the downpayment I used to pay back my initial investors and my own property in a great location.

Lessons learned? Challenges?

I have a whole page of lessons and challenges but tons personal growth.

I didn't have the best realtor so I decided to become a licensed Realtor in Maine during the past year to improve my knowledge in Real Estate and do the work myself. If anyone ever wants to partner up in Maine lets meet up and talk!  Thanks.