Baton Rouge BRBRRRR, new investment

[Travis Steinemann]

Investment Info:

Single-family residence buy & hold investment in Baton Rouge.

Purchase price: $68,000
Cash invested: $5,000

Beautiful single family rental. We are removing a wall, changing the fixtures, flooring, cabinets, and some fresh paint. It should BRRRR nicely and have great cash flow after we refi.

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

I love any BRRRR I can find that cash flows.

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

I have a cold caller working through absentee lists. I negotiated it after walking through and making my rehab estimates. The seller had another offer for more but since I was local he went with me.

How did you finance this deal?

Private money

How did you add value to the deal?

I found it, negotiated it, and am doing a lot of the work. The ARV is around 140k and it needs 20-30k.

What was the outcome?

TBD, we are wrapping up our fourplex project then will work on it. We have a 6 month seasoning period so we aren't too worried about the timeline right now, but we will get to it shortly.

Lessons learned? Challenges?

Starting it is a challenge! We are accumulating materials at the moment, but once we get started, we should fly. We have the plan in place.

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

Not yet, but if the refi goes well I will let you know.

[Travis Steinemann]

Originally posted by @Andrew Syrios:

Well done Travis! And that's not a lot of cash invested, which is great. What do you think the ARV is about?

Hi Andrew, thanks for the support! ARV should be around $144k with our level of finish!