My third deal (BRRRR)

[Walter Anderson]

Investment Info:

Single-family residence other investment.

Purchase price: $47,000
Cash invested: $18,135

3bed 1 bath BRRRR

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

This looked like a possible BRRRR, get my money back.

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

I found it on MLS, it was good price, negotiated for them to put pillers in basement.

How did you finance this deal?

Bank funding, 15% down. The closing costs were 9134.41

How did you add value to the deal?

Everything got tuched new paint inside and out, referbished kitchen, new bath, buffed and sealed floors, new lights, everything was touched.

What was the outcome?

Bought house at 47K put about 8-10K all in at 57K in and it ARV'd at 90K was able to get all the money back that we put in and it cash flowed well. My refinance check was 23,849.86 after paying off my previous loan and It was a lower rate than the bank finance I originally had. It want from 6% down to 4.625. So outcome was I got my money back and cash flow property 200+

Lessons learned? Challenges?

I did alot of it myself, so hopefully I can do it quicker next time.