DIARY OF OUR FIRST BRRRR IN OUR REAL ESTATE LIFE
Well here we are closing today on our First BRRRR. We got it for $72,000 and it needs approx $25,000 worth of renovation and we think it will rent for $950.00 for each 2 bedroom i bath and garage. This is our 3rd duplex and investment property. We bought our first 2 duplexes 14 months ago.
The house looks great on the outside but all kinds of stuff wrong on the inside. There is water coming in that looks like its from the clogged gutters and the pitch of the house. In the back the earth is pitched toward the house so we will have to get a machine in there and change the pitch away from the back away from the house. It will also need a drain back there. The gutters have to be cleanned. We are hiring a contractor we know that is sort of expensive but fast and really knows what he is doing and can follow directions and make informed decisions.
The garage ceiling is falling down because of the water and the Garage will need a new ceiling. We will assess the damage tomorrow. We are giving this 2 months to renovate it and rent it. God willing