Cobbs Creek - BRRRR Strategy and Execution

[Michael Lenahan]

Investment Info:

Single-family residence buy & hold investment in Philadelphia.

Purchase price: $52,000
Cash invested: $40,000

Analysis : https://www.biggerpockets.com/calculators/shared/370773/3e693e96-668f-4496-b69a-fad0b0f92297

Link to Photos: https://photos.app.goo.gl/wxvf2axZseF4Jqu76

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

I found this deal on the MLS.

How did you finance this deal?

Cash and Personal Line of Credit

How did you add value to the deal?

This was a gut rehab. This was the first time that I added recessed lighting. I felt this was a good investment and added value to the home. It is also my practice to refinished the hardwood floors whenever possible.

What was the outcome?

House was appraised for 147K and is currently rented for $1,100.

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

I have been using the same GC and Electrician for years. I also work with the same lender on the refinancing. Message me for details.