4040 Carolyn My First BRRRR

[Dalton Osmanski]

Investment Info:

Single-family residence buy & hold investment in Fort Worth.

Purchase price: $135,000
Cash invested: $2,000

This was a BRRRR investment where we renovated the property forcing appreciation on the home and refinanced with the built-in equity we had created. We bought this distressed home for $135K and invested another 70K in renovations and repairs. Once the home was remodeled we found excellent renters who are working on their finances to buy it when their lease was up. After waiting 6 months (Fannie & Freddy requirements for refinance) our appraisal came back valuing the home at $265K which meant that we could pay off our hard money loan and get our initial investment of $25K back. This was the perfect BRRRR as we were able to get our investment back and have 25% equity in the property and while the cash flow isn't incredibly strong having the property and our investment back meant we could go buy another deal!!

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

Long Term Income

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

Found this deal on Zillow first day on the market and had to offer $5K over asking but worth it!

How did you finance this deal?

Hard Money Loan

How did you add value to the deal?

Full interior and exterior