Baldwinsville, Buy and Hold, BRRRR

[Megan Shatraw]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $16,050
Cash invested: $65,000

Purchased this property in March of 2019 as a foreclosure. Needed extensive work. Put about $65,000 into the first year of ownership. Rented the property in June of 2020 for $1,525 a month. Refinanced the property in May of 2020 where it was appraised at $135,000. Pulling all of our initial investment out and leaving the rest as equity.

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

The location and price.

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

Bought as foreclosure, standard cash purchase agreement.

How did you add value to the deal?

Extensive rehab, leaving the original footprint the same.

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

I am a licensed Real Estate Professional.