SFH - Allegheny West Philly - BRRRR

[Alex Capozzolo]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $50,000
Cash invested: $34,000

Contributors:
Jon Sanborn

Our Team's third property purchased! This is a big SFH (big for parts of Philly) at 1,320 sq ft. The neighborhood is Allegheny West, 19132 - There is a ton of new development nearby, which excites us! Our plan is to BRRRR this property. Not sure if we can pull everything out, but we hope to be close. The rehab only took 2 months, which was quick for us! Starting the tenant search process next week, and then looking to refinance.

How did you finance this deal?

This was the first deal that we've purchased from a wholesaler, and it went super smooth!

What was the outcome?

We expect this to cashflow $62/mo after all expenses accounted for. Not a home-run, but hitting singles / doubles will get us to our goal! Small bricks build big houses :)

[Alex Capozzolo]

@Kevin M. it ended up working out! Appraised at $125k so we were able to pull just about all of our money out, I think we left in $3k. Happy with it :) 

It rents for $1075/mo

Cashflow isn't amazing on this one but it's positive and we got in for cheap