BRRR single-family rentals

[Josiah Chatterton]

Investment Info:

Single-family residence private money loan investment.

I bought this property my senior year of high school when funds were limited and I legitimately could not sign for a mortgage. I was however able to sign for a private money loan to purchase the property, I had to have my father actually sign for the mortgage as I wasn't 18 at the time. I rehabbed the property with my savings and built up equity. Once I turned 18 I used a quit claim deed to switch the property fully into my name and then refinanced the property to pay off the private money loan. It was a BRRR in essence and allowed me to get a head start in real estate. The property is performing wonderfully now and has been one of my best deals to date!

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

The Biggerpockets Podcast was my main inspiration for pursuing this deal.

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

I found this deal via the MLS and negotiated via a realtor.

How did you add value to the deal?

BRRR