Fort Worth SFR-BRRRR

[Anna Catron]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $145,000
Cash invested: $6,000

2/1 converted to 3/1, 1600sf, 1/2 acre lot. Again, 1950s home, bought from a neighbor.

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

SFRs are easy for newbies and while we knocked our first out of the park, we're not ready for multifamily.

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

Reece is great at schmoozing with older women! She wanted to sell and we knew the market was improving!

How did you finance this deal?

conventional

How did you add value to the deal?

Got rid of an ugly car port.
Added a bedroom.
Made the gross closed in porch into a very attractive space.
Again, floors and interior paint.
Basic landscaping.

What was the outcome?

Excellent tenants

Lessons learned? Challenges?

Racist old lady neighbor (not the seller) is causing difficulty for the tenants. We may lose them. My spouse and I viewed the situation differently which created growing pains for us.

We also learned our kids are quite the asset! 7, 9, 11 years old and rehabbing is honestly easier w them than without! Don't work w/o them!