my first BRRRR in Green Bay

[Nicole Kittell]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $17,000

Currently working on a buy and hold investment near the packer stadium. Im really excited to post pictures of before and after. These will be up soon.

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

Being my first property, it was affordable, empty, and I am very familiar with the area. I know what I can get for the property if I need to sell it and I know what rents are in this area. Its in a great location with a lot of upsides.

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

Found it on the MLS. I am working with a local agent because when I found the deal I was not yet an agent myself. We wrote the offer but needed city approval due to back taxes and liens on the property needing to be forgiven.

How did you finance this deal?

A local lender does the financing for rehab and purchase price. They will do up to 70% of appraised value arv.

How did you add value to the deal?

I have a large amount of repairs I will be completing.

What was the outcome?

Still working on it. Will be refinancing to a rental if all goes well.

Lessons learned? Challenges?

Being my first property, I am looking at this as my education property. If I make money (that is the idea) I will be happy but I am not putting priority on that over the education. I am learning how to do a scope of work. I am learning how to get bids from contractors, I am also learning how to automate the process using a book I have called Real Estate investing bible. Its giving me a step by step in case I am not in the area and don't plan on being there constantly.

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

agent helped my write an offer. Lender will be funding the deal.