BRRRR in West Chester, PA

[Rob Lawrence]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $293,000
Cash invested: $135,000

Bought this single family house, and I am currently in the process of renovating it. Planning the BRRRR it, should be able to rent it for $3,700 is my expectation. Should get some cash flow at that rent. ARV should be $575k when completed.

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

I like the single family house investing strategy and I have done a few.

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

It was on market. Made an offer of $275k on a $389k list price. Initially rejected my offer, and came back to me. Asked me to come up a little and I went to $293k and waived my commission.

How did you finance this deal?

I used hard money and HELOC's on other properties

How did you add value to the deal?

I am going to be doing an extensive renovation, biggest thing is dorming out the roof to increase the size of the bedrooms.

Lessons learned? Challenges?

Learning to deal with structural changes and using an architect.

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

I was my own agent for this one.