My first of many Brrrr

[Christopher Madden]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $105,000
Cash invested: $27,000

BRRRR property, ARV between $160,000 to $180,000. Owner financed it and will cash out prior to renting it. Added new flooring (LPV) in entire home, redid both bathrooms, need to complete redo plumbing for the entire home, moved the location of front door to add curb appeal added a blacktop driveway and new appliances in the kitchen. Should rent for $1400 a month once complete.

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

Wanted to start investing with a SFR in my hometown (great school district) cultivated a relationship with an older investor and he gave me a great deal.

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

Befirended and older investor who I knew within a few years wanted to start to liquidate his rental portfolio.

How did you finance this deal?

Owner finance for 105k and 8k down.

How did you add value to the deal?

New flooring, renno kitchen and bathrooms, relocated the front door to enhance curb appeal.

What was the outcome?

TBD

Lessons learned? Challenges?

Would like to find reliable workers to speed up timetable and alleviate me from having to do it on nights and weekends.

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

I am an agent myself.