Just wanted to introduce myself! My brother and I closed last week on a SFR in connecticut that we will be renovating and renting out. Ended up with a price and terms that were very favorable. It is currently a 3/1 and we are flexing to a four bedroom. Purchased together with my brother as my first, his second investment property, though we manage a portfolio of other properties. Plans as of now are:
- Remove wallpaper and repaint entire interior of home.
- Replace doors and windows throughout.
- Kitchen: Paint cabinets, new appliances, new sink, granite counters, and put in dishwasher. Flooring will stay.
- Sand & Stain hardwood upstairs where the carpet was, the main level's floors are great.
- Converting dining room to bedroom and open wall to kitchen from living area.
- Finishing the basement.
I will do my best to keep this updated, below pictures are from the first day and arent great, sorry they are sideways. That is my brother and a buddy in a few of the shots.
excellent good luck! are you and your brother comfortable enough to share the financing details? I'm just wondering if there was any creative financing that could help others in the same boat (buying their first)
Good work and I am definitely a fan of the BRRRR method so I think you've made a wise choice. Good luck with the project and many more to come!
Congratulations on your first investment property! As Cliff mentioned if you would be comfortable in sharing some of the financial details I'd greatly appreciate it! I live in Chicago and im looking for my first investment property as well.
Best of luck!
@Mark Taliercio Congrats on landing this deal. Not many are able to purchase a SFR at a price in CT where the numbers make sense for a BRRRR or even a straight rental. Sound like you have a solid plan in place moving forward. Best of luck to on this project.
Would you mind if I asked which area of the state this house is in?
Michael Noto, Real Estate Agent in CT (#RES.0799665)
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