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Updated about 9 years ago on . Most recent reply

Simon Shih's profile image
Simon Shih's profile image
Simon Shih
  • Investor
  • from Houston, Texas
  • Member since Jul 31, 2012
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User Stats

354
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186
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Simon Shih's profile image
Simon Shih's profile image
Simon Shih
  • Investor
  • from Houston, Texas
  • Member since Jul 31, 2012
Connect
Simon Shih
  • Investor
  • Houston, TX
186
Votes |
354
Posts
Real Estate Deal Analysis & Advice

My First Deal Closed

Simon Shih
  • Investor
  • Houston, TX
Posted

I just closed on my first deal. It was found though direct mail. I bought it all cash and plan on doing a BRRRR on it.

2 bed/ 1 bath
Time from first call to close: 3 weeks.

Purchase Price: 15K
Rehab Estimate: 35K
ARV: 80K
Rental: 1000 a month

Once the rehab is done, I'll refinance it and pull out the equity.

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