Long distance BRRRR Investment in SE Wisconsin

[Grayson Lynum]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,000
Cash invested: $24,000

BRRRR owner financed, we provided repair funds. We did an extensive renovation and the ARV is right at $200K
Being professionally managed, $830/mo after all costs including 20% taken out for repairs and Cap Ex.

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

Bigger pockets!
Also familiarity with the area and market

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

Knew the owners and were made aware of their desire to sell.
They had cash offers under our agreed purchase price, but we paid more if they agreed to hold the note.

How did you finance this deal?

Owner financed, credit cards and cash!

How did you add value to the deal?

full remodel.

What was the outcome?

Beautiful, fully renovated investment property. We will do a cash out refinance in the spring, after seasoning, and use the proceeds to buy another!

Lessons learned? Challenges?

DO YOUR FIRST DEAL!!