Single Family House that I Purchased, rehabbed and rented (brrr).

[Chris Hale]

Investment Info:

Single-family residence buy & hold investment in Texas City.

Purchase price: $59,000
Cash invested: $22,000

Single Family House that I BRRRRd. Purchased at a discount from a wholesaler, rehabbed and rented out.

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

Decided I wanted to try single family investing.

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

Found the deal through a realtor associated with the real estate group of which I am a member. Bought it from a wholesaler, no negotiation.

How did you finance this deal?

I financed the initial purchase and rehab through a hard money lender. Rehab took about 9 weeks, then transferred the loan into a thirty year mortgage.

How did you add value to the deal?

The house required a new roof, HVAC system, granite kitchen and bath counters, wood vinyl flooring, interior and exterior painting. Added all new appliances.

What was the outcome?

A very nice best product to lease at the best price in the neighborhood. An asset that will have no repairs for about 3 years since everything is new.

Lessons learned? Challenges?

I learned to pay closer attention to the GC. I learned who is a good member to keep on my team and who is not as I begin to build my team.

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

Not really.