Updated over 5 years ago on . Most recent reply
Successful BRRRR Single Family
Investment Info:
Single-family residence buy & hold investment in Halethorpe.
Purchase price: $121,000
Purchase Price: 121K
Rehab: 15k
Holding Costs: 5K
Appraised: 200k
Monthly cash flow: $350
Overall, I'm very happy with this deal. It took about 2.5 months to rehab I did a lot of work and subcontracted out a few items. Currently leased by an option contract with an option price of 200K and monthly rent of 1,600. With the appraised value I was able to wrap in all closing costs and take out about 2k. This project gets me excited for the next one!
What made you interested in investing in this type of deal?
This deal interested me because it looked like a quick rehab and something I could do mostly on my own.
How did you find this deal and how did you negotiate it?
I found it on the MLS. Only able to negotiate down $300. it was a foreclosure
How did you finance this deal?
Private money then refinanced using a 30 year
How did you add value to the deal?
Renovation
What was the outcome?
50K in equity
$350 positive cash flow
