Milwaukee Fix and Hold

[Venkata Soma]

My First BRRR Deal in Milwaukee

Purchase price: $95,000
Cash invested: $33,785

This property was acquired by a hard money loan with an interest rate of 12.99 percent. We rehabbed the property and rented it out in first week of April. I have plans of refinancing the hard money loan with a traditional 30 year loan in May'24. I am using the BRRRR for this and hoping to scale my real Estate portfolio.

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

BRRRR seems like a good option for the market in Milwaukee. The reason being the ARV value of the house is considerably higher after rehab and refinancing a hard money loan with traditional 30 year essentially leaves some cash on the table and you can continue to invest.

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

I found the deal using Zillow and used the BP calculator before I negotiated the offer

How did you finance this deal?

Hard money loan, in the phase of refinancing it now(may'24)

How did you add value to the deal?

I hired a local contractor to add TLC to the property. My experience working with him was smooth

What was the outcome?

The property immediately attracted tenants.

Lessons learned? Challenges?

The challenges I faced in the process was negotiating with private lenders

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

yes I did. Happy to share and refer him to you. Please reach out directly.