First Brrrr Investment Property

[Shilpa Shankar Bhatia]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $41,000
Cash invested: $120,000

3 bed/1.5 bath
Currently rented

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

Fix and Hold
Brrrr

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

MLS

How did you finance this deal?

Cash purchase and rehab then refinanced

How did you add value to the deal?

gut renovations
redid all new windows, insulation, hvac, bathrooms, kitchen, hardwood floors

What was the outcome?

Rented successfully

Lessons learned? Challenges?

Rehab budgets can go high
Don't waste time listing for sale in a higher interest buyer's market.
Should've rented sooner than trying to list for sale
Pick the right agent to sell