BRRR Strategy - Milwaukee Rental

[Mitch Ferraro]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $45,000
Cash invested: $24,800
Sale price: $125,000

Contributors:
Adam Slipher

This was a rental that was obtained by the BRRR strategy. The sales price on this one was what it was appraised out for when we refinanced. Great rental, great cashflow.

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

Purchase price and renovation costs to get this to a great positive cash flowing rental.

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

We purchased this from a wholesaler and they negotiated directly with the seller.

How did you finance this deal?

Private money and then refinanced with commercial lender.

How did you add value to the deal?

Renovated the kitchen, bathroom, flooring, paint, landscaping, and basement. Now it's a great 3 bed, 1 bath single family rental.

What was the outcome?

We turned this into a rental property that generates $1,200/month

Lessons learned? Challenges?

This was a pretty smooth project. Low budget, quick turn, and contractors did a good job on this one.

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

As always, Summit LDS was a great title company to work with on this refinance. They are always a super investor friendly title company.