My first deal generated from networking, and persistence.

[Ben Wernert]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $95,000
Cash invested: $15,000

2 BR / 1 Bath 1350sqft. all brick ranch. Full basement. The home is located in an up and coming area, and will generate a good rent.

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

I'm drawn to the BRRR method. You can build future net worth, by investing $0 out of your pocket.

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

I found this deal by networking. A long time friend who also invests turned me on to this property when it wouldn't work for what he was looking for.

How did you finance this deal?

Self funded. Use of personal cash, and borrowing against a few assets that I will pay off once BRRR'd.

How did you add value to the deal?

rehabbed bath, new kitchen, and created a large 3rd bedroom with an oversized closet to serve as a master. Updated fixtures, flooring, paint, a few windows, and general clean up inside / out.

What was the outcome?

All in for 110k, ARV 150k. Should generate positive Cash flow.

Lessons learned? Challenges?

I did this deal to get my feet wet. It initially wasn't the perfect deal, but it was an easier deal with regard to the rehab. I have a background in construction, so the rehab wasn't an issue. in the future I will know the direction I will move before I purchase. I took about 10 days after purchase to decide what my plans were with regard to the rehab.

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

The deal came to me from an investor friend, who is also an agent. I believe he turned my on to this deal to shut me up...lol! I know he wants me to succeed, and I'm grateful he was willing to share this opportunity with me.