My first BRRRR

[William R.]

I close on Monday for my second BRRRR property. My fist was a 3 unit building, so a bit different, this one should be easy. I am a buy and hold investor, so lots of people ask why I don't flip it. I am investing for the long term and enjoy being a landlord who provides nice properties at a fair price. Every time I look at my Mint account I am amazed at what real estate has done for me! This property was a Fannie Mae foreclosure in a "C" neighborhood in Louisville Kentucky. My goal is to refinance, get all of my initial investment back and cash flow $300+/month. The purchase price is $25K and I expect to put $14K into it. Comps in the neighborhood are around $60K.

Fist thing I'll be doing is treating for termites with Termidor SC while the electric gets reconnected. Then, HVAC, Paint, floors and fixtures. I hope to have it rented in under 3 months. My issue is going to be in not over improving it (I probably did that with the last one).

[Todd Bauer]

William Be sure to stop by my store in Louisville,  Builders Surplus  5600 Poplar Level Rd.  Get signed up for Pro Rewards (You qualify cuz you flip/own investment props)  I think we can help you NOT over spend on improvements.  But remember if you rent you might invest in High Use High Abuse materials so you aren't constantly replacing every re-rent.  Best of Luck