San Antonio BRRR number 2

[Kyle Varga]

Investment Info:

Single-family residence buy & hold investment in San Antonio.

Purchase price: $136,000
Cash invested: $43,402

Purchase, full remodel. Rented for $2545 per month refinanced. The downside of 6 months before I earn all my cash back.

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

This is my long term strategy. A few more of these and I can quit my day job.

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

Made offers on multiple properties till someone accepted the numbers I needed.

How did you finance this deal?

Hard money of 102K Used my HELOC for the remainder.

How did you add value to the deal?

Complete remodel including open concept kitchen and living upgraded baths and cosmetics on the exterior.

What was the outcome?

The appraisal came in a little lower than I had hoped. But the cash flow was nearly $500 more than I had anticipated.

Lessons learned? Challenges?

Stop hiring individual contractors. Took way longer than it should have to complete the remodel.

[Tommy Daggett]

@Kyle Varga Hey man, way to go! Looking forward to being able to quit my day job one day, though it's a great company.

I myself am looking to at the San Antonio market to invest, though not at the moment. 

I am at 10K saved, looking to get to 50k by the end of 2023 to invest in San Antonio. 

By that time you'll have quit your day job. 

Good luck to you!