first accidental brrr

[Gustavo Jimenez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $115,500
Cash invested: $35,000

Brrr strategy. cashed out what I invested into the property.

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

numbers looked great for a flip

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

found on zillow

How did you finance this deal?

cash purchase

How did you add value to the deal?

house already had some repairs from hurricane damage. I completed repairs.

What was the outcome?

had it for sale 6 months and kept getting lowball offers. decided to refinance and keep as rental.

Lessons learned? Challenges?

know the market. This was my first out of state property (Florida). Im from california so im used to houses selling fast. I learned that panama city fl is a great renters market because of the military base and it being a tourist area.

[Doug Spence]

@Gustavo Jimenez Awesome! If you need more access to capital, I recommend documenting your journey via a blog, social media, youtube, etc. People love following real estate investors and their progress, and you're bound to come across someone who wants to lend. There are probably folks in your network already who have capital to lend! Best of luck.