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Updated 10 months ago on . Most recent reply
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Share your most unexpected win
Share your most unexpected win in real estate investing. Was it a deal that seemed too good to be true, a property with hidden potential, or a creative financing strategy that paid off big time? Let's hear your story and inspire fellow investors with your unique journey!
- JT McCarthy
Most Popular Reply
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My first deal ever last year
I purchased a two property deal in a single hard money loan. (low value properties -125k for both) Intention was to do a BRRR on both. The first one worked out perfectly. I'm getting about 8% CoC with 11% Return on Equity. The other suprised me. The rehab was about $10k more than anticipated but the post repair appraisal was $70k over my estimated ARV. The CoC and Return on Equity are not great, but now I have $70k of equity I have to figure out how leverage. If I take it out I go negative CoC and Return on Equity is below 2% :( I look at this as good problem to have and consider this a huge success for my very first deal.
Sincere thank you to everyone here. The Bigger Pockets community has been a real help for me in making good decisions