BRRRR! - A prototype deal we are always looking for!

[Blake Edwards]

Before - Outside

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $28,000

BRRRR!
Found a 3 bedroom home and added a 4th to increase ARV.
New roof and newer systems, as well as updated floors
Placing a tenant now, and projecting great cash flow ($600+) !

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

BRRRR'ing is our strategy and this is the prototypical deal we are after

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

We found this through an agent and wanted to get inspections done in a timely manner. We were past our inspection contingency date, but our relationship with the agent (who was double-ending it) allowed some leeway there and we were able to get everything done, and feel "comfy" proceeding.

How did you finance this deal?

Through a small, local bank. You don't always need cash, or Hard Money!

How did you add value to the deal?

We added an additional bedroom to make it a 4 bedroom home, thus increasing the ARV

What was the outcome?

We are placing a tenant now and refinancing next week!

Lessons learned? Challenges?

We scrambled to get our inspections done over the weekend and were not able to. We were past our inspection contingency date, and were still able to get the deal done by multiple phone conversations. Not emails...Not texts... Actual phone calls.