The Longest BRRR EVER!! (maybe, 6 years total)

[Zack Bruce Lindsay]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $155,000

I just recently came across a post on the BP forum "Seeking Biggest Mistakes" and figured I'd share mine. Biggest mistakes is a great topic for a story. Honestly, I've learned so much from the mistakes that I've made. In a way I'm grateful for what I've gained through the difficulties brought on by those mistakes. Though, I'm definitely trying to navigate them differently from here on out.
A story of mistakes? Have I got a story of mistakes for you!

How did you add value to the deal?

I made a video that summaries most of the story pretty well. It's on Instagram.
If you'd like to check it out, here's the link:

https://www.instagram.com/tv/B...

What was the outcome?

This was my first ever deal. A lease was signed 3 months ago and the home is finally fulfilling its original intention of being a rental, 6 years later! Even in the midst of the Covid pandemic I was able to find a renter for $1,900 per month - breaking records for the area. I'm in the process of refinancing the cost of the build and renovations out of the property, approximately 155k.
The listing if you're curious:
https://www.flexmls.com/share/3dNDd/6014-S-45TH-PL-Phoenix-AZ-85042