Franklinton BRRR Property

[Ryan Mainwaring]

Investment Info:

Single-family residence buy & hold investment in Columbus.

Purchase price: $83,000
Cash invested: $51,000

Rehabbed the interior of a 3 bedroom and 1.5 bathroom single family. Located in upcoming Franklinton

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

The area is improving and we wanted to help Columbus improve the downtown areas

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

We found this deal on mls and made a fair offer based on our numbers

How did you finance this deal?

Private money

How did you add value to the deal?

We pulled 3 bedroom & 2 bathroom comps of area above Sullivant

What was the outcome?

We are holding it as short term rental

Lessons learned? Challenges?

Plan additional 10% for contingency for unforeseen repairs.

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

Yes we worked with union mortgage to cash out refinance the property and Plaid Properties to rehab the property.