First Single Family BRRRR

[Collin Groves]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,000
Cash invested: $35,000

My first property started with a BRRRR in a great location. This fixer upper was untouched by the market - for good reason - but in an ideal area. After 2 months working on the property, my first lease was $1,500 for 12 months on a ~$680 note. I was netting $500 a month on this property as I self managed it. refinance recently for $205,000 and a 2 pts lower interest rate. Needless to say, I learned as much from this as all of the books and podcast.

How did you finance this deal?

Personal funds

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

Great contractor and lender on the refinance