BRRRR project in Cincinnati

[Alicia Stoughton]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $60,000
Cash invested: $100,000

BRRRR Project. 2/1. Currently renovating and getting ready to rent. Rehab includes cosmetics throughout, new kitchen, bathroom, new hvac.

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

We are seeing the market shift and moving from straight fix and flip to gaining several rental properties a year through the BRRR strategy. We feel most comfortable buying properties that need renovations, because of our Architecture and renovation background.

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

This was an off market deal we picked up from a current real estate client.

How did you finance this deal?

Cash

How did you add value to the deal?

We are finishing a $40K renovation on the property, adding central air.

What was the outcome?

We aren't quite at the outcome yet, but the plan in to get tenants in place, and then financing out of the deal, freeing our capital for the next project.

Lessons learned? Challenges?

Not at this point.

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

We are working with Geoff Bostick at Guaranteed Rate to finance out of the deal.