My First BRRRR! With Pictures!

214 Replies

Looks great! Well done. Glad to hear you learned a lot along the way.

Great Job!  You really made it very nice.

@Cam Jimmy Dude that's really cool. I have the same backsplash but shades of blue.

@Cam Jimmy Congratulations on your first BRRRR! Thanks for sharing and the pictures look awesome!

@Cam Jimmy Thanks a lot bro, you just made all my deals look like sh** Lol jk, incredible job!

Great job and congratulations. Now you understand what it takes to complete a rehab and can now have an informed conversation with all of the contractors you hire for the next project.

Good luck.

@Cam Jimmy how are you. congratulations on you first BRRRR. Im a new investor and I'm working in getting my first REI using BRRR too. Did you use HELOC to put in a downpayment for the property? thanks so much.

Congrats on your first BRRRR! Very encouraging for us in the same process. I agree about hiring out most of the work if you cannot do it quickly yourself. My husband and I did most of the work on our first rental property and it took FOREVER compared spending the extra money to get it done faster. It all worked out in the end and we quickly found a renter, but a lot of money wasted due to vacancy. :-) Looking forward to hear more about your successes!

Congratulations! It now looks like a nice property to rent. :)

@Richard Escano Thank you. There was no down payment necessary for a deal like that. I paid the entire amount with the HELOC.

Way to go CAM!  You are truly an inspiration.  Glad to hear things are working out for you (and others of us, in this great state).  I hope to get to the point that I can do MORE of the remods that I am comfortable with, just not ready to leave the day time job yet.

Being proactive is definitely the way to go.  By taking a chance, you set yourself up for success.  Congrats again!

Judy Murphy

Kenny Lake, AK

wow you have mad skills. I am curious as to how you developed so many contractor skills?

@April Choi Thanks April. I went through an electrical apprenticeship in my early 20's, and I was surrounded by all of the trades. I asked random people questions while I worked on my own projects at home. Youtube. And just doing it... Trial and Error.

Great job!! Was that mold in the closet? Couldn't see clearly in the pictures.

What a great transformation, thanks for sharing your story. It's a huge inspiration!

Looks great @Cam Jimmy ! That's a lot of work - and 53k on the rehab... the numbers tell all though, 67k in equity on a cash-flowing property. Thanks for the share = motivation

Hello Cam, first let me congratulate you.  That is great your first Brrrr.  Are you doing only investments in Alaska?  

Yes doing the work yourself can really be a downer.  Finding or negotiating qualified contractors among the different home repair groups helps.  It may take trial and error but sure worth it.  Also if you have something like a Lowes or Home Depoe which are two of our big Home Improvement Centers here helps because they will do the installation for you, and you can add in the fee for your repair estimation.  Look forward to your reply.  Alice

@Alice Thomsen Thank you! Yes I've only done investments in Alaska up to this point in my life. I'm open to investing outside my market, but I am not confident in doing so yet. Do you invest outside of your market?

Fortunately for me, We do have both Lowe's and Home Depot where I live, so thank you for the advice on getting stuff installed by them :)

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