BRRRR on a VA-foreclosed home

[Angel V.]

Investment Info:

Single-family residence buy & hold investment in Oklahoma City.

Purchase price: $70,000
Cash invested: $30,000

This one was an inspired by the BRRRR strategy with lots of potential (a VA forclosure)... but life got on the way and I had to outsource a lot of the labor that I had planned on doing myself. I'm breaking even on it after Refinancing, but have learned so much in the process.

[Will Fraser]

@Angel V. well done getting on the RE road!  Even at a break-even it's not a break-even because, as I'm sure you already realize, the lessons learned will pay dividends in the next deals.  One of the biggest lessons I am reminded of and hear my clients recount is this:  tasks ALWAYS take longer than you think they will.  It's seems impossible to overestimate how long a simple task will take, from a large thing like installing a new door or shower pan to a tiny task like installing door stops, time adds up.  So, be prepared for life to happen and get in the way and factor that into the budget/plans and then you'll be off to the races (to learn more lessons that you can grow on).

Small multi-family is a great path here in OKC!  I love the process, and I love getting to do it alongside stellar folks.  

Feel free to reach out with any question you might have!