Brrrr deal back when we didn't even know the term 'brrrr' yet.

[Lukasz Boczniewicz]

Investment Info:

Single-family residence buy & hold investment in Beverly.

Purchase price: $16,500
Cash invested: $35,000

3 bed 1 bath SFR, bought of the MLS. It was sold as an REO.
Interior wise it needed a decent amount of work. We rebuilt the kitchen and bathroom from studs up.
Converted from oil heat to gas. Installed full HVAC system.
New roof. Painted siding.
It was fixed up with intention of holding as a rental.

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

This was the cheapest house we could find and were able to buy with our own cash.

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

MLS listed REO. Engaged the listing agent to represent us and offred $12,500 on $25,000 listing. Ended negotiations at $16,500.

How did you finance this deal?

Personal Cash for the purchase.
Private Money for the rehab.

How did you add value to the deal?

It needed a fairly decent rehab to bring it up to code.

What was the outcome?

Infinite return on investment.
We have refinanced out the property after getting tenant in place for $55k. It is cash flowing few hundred bucks a month. And we still have the original tenant in place today.