🔨🚧 BRRRR-STR in Georgia

[Casey Devaux]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $280,000
Cash invested: $100,000

BRRRR-STR | MTR

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

I wanted to take on another house hack and needed to relocate for my job.

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

I found it on the MLS

How did you finance this deal?

Conventional - this was a primary residence so I lived in it while rehabbing.

How did you add value to the deal?

When I toured this property I LOVED that a portion of the basement was unfinished. I looked at nearby comps and realized that I could easily recover my investment if I were to add an additional conforming bedroom and bathroom! This ended up being a great deal and I was able to recover my full investment, while holding onto a great cash-flowing rental.

What was the outcome?

The home has done fabulously as a Mid-Term rental. We have had less than 5% vacancy over the past 2+ years of operating. We've been able to cash flow extremely well, and the home has already appreciated over 50% in value.

Lessons learned? Challenges?

This was the most difficult and lengthly rehab my husband and I had ever done. It took longer than expected, coming in at about 13 months total. Learning to go through the cash-out re-finance process first hand was also wonderful!