BRRRR in Tacoma-Seattle

[Rudy Manna]

We are on track building a BRRRR engine in Seattle/Tacoma area - and it keeps rolling. 15 BRRRR Deals in one year, in one of the hottest markets of the country. Hopefully we got a formula that will work over the years. Here is a latest one:

4 Bed, 1 bath, 1100 sqft in East Tacoma, Residential quiet neighborhood 

Acquisition Price: $136K

Rehab Cost: $40K

Holding Costs (Short term finance, closing etc.): $10K

After Rehab Value: $230K

Walk-in Equity: $44K (19%)

Scope of Work:  Fence, Kitchen-Bathroom complete gut out, new heaters, lighting, interior and exterior paint, floor, windows, door, fence, other handyman fixes, appliances.

Congrats to partner @Pradeep Tiwari, Anup Shah

Thanks to @Timothy Tooker

@Richard Rolle for helping us build the acquisition science

Here are the pictures:

Before:

After

Tacoma, Pierce County, THurston County, Puyallup, Seattle, King County

@Richard Rolle

[Rudy Manna]

Originally posted by @Ike Hobbs:

$1600 rent for that? Seems pretty high to me but I don't specialize on rents. How quickly were you able to rent it. (Or are planning on renting it if it's still ongoing). Nice work! 

 It was rented within a week or so..we have boots on the ground to make things happen faster