My First BRRRR a single family out of market

[Mike Terry]

Investment Info:

Single-family residence buy & hold investment in Lakeland.

Purchase price: $57,000
Cash invested: $5,000

This is my first BRRRR. She need new floors and new countertops. Some minor repairs to get rent ready. I hope to have it rented by March 1st.

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

It is a single family sitting on 4 lots. The plan will be to get the front house rented and then add modular homes to the back 2 lots. The property sits in a small southern GA town with a military base near by.

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

MLS, used a local investor/realtor

How did you finance this deal?

private money, 50k loan, will rehab and refinance and get most of my intial investment back.

How did you add value to the deal?

Will be adding new LVP floors, new counter tops, minor repairs, replace dishwasher

What was the outcome?

TBD

Lessons learned? Challenges?

Always use the same closing attorney. It just easier.

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

@tommycangelosi Goergia Florida Real Estate Services, Valdosta.