My Most Recent Deal - A Cash Cow!

Rental Property Investor · Tyler, TX · Member since 2019 · 72 posts · 39 votes

Finished up the next property and am ready for tenants. Thought I'd post the numbers for others to see and help evaluate - hope this helps. Send me feedback!

State: Texas
Model: BRRR (done remotely)
Purchase: $18,500 (borrowed)
Rehab: $24,000 (borrowed)
ARV: $65,000Money
Costs: 10% and 2 points
Rent: $1050
Monthly Cash-Flow (Bottom Line): $421.47

With none of my own money in the deal, I’ll be walking away from refinance closing with $5,375 in my pocket and $421.47/mo.

Another property done during a pandemic showing there are still deals out there, you just have to know how to find them! Next one is under contract with 3 more in the pipeline.

If anyone has any questions or wants to learn, feel free to PM me.

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Moises R Cosme
Flipper/Rehabber · Leominster, MA · Member since 2020 · 667 posts · 384 votes
6y
Fantastic!!! Congrats!!!
0 Reply
Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
6y
Beautiful! Nicely done!!
0 Reply
Account Closed
Investor · Mills River, NC · Member since 2019 · 37 posts · 68 votes
6y
@Blake Choisnet
Well done on the rehab. The project turned out pretty profitable I'd say. It's good to see deals like that are still happening in these times!
0 Reply
Percy Matsunaga
Flipper/Rehabber · Sacramento, CA · Member since 2016 · 282 posts · 85 votes
6y
@Account Closed
Super awesome job!! Btw what city in Texas are those properties?
definitely would like to know what strategy you use to obtain those properties.
Drive for $$?
mailing list?
0 Reply
Brian Megilligan
Raleigh, NC · Member since 2016 · 3 posts · 4 votes
6y
How much were you personally involved with the rehab and oversight of this deal? Could a guy with a full time job have pulled this off? You must have had a solid contractor.
0 Reply
Lien VuongBusiness Member
Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
6y
Amazing! Great work and thank you for sharing your success!
[email protected]
The Elle Group5153 Reviews
Website View Page
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Michael Barnhart
Rental Property Investor · Cambridge, UK · Member since 2020 · 203 posts · 95 votes
6y
@Account Closed this is fantastic, I love the power of the BRRRR! Well done!
0 Reply
David Chappell
Austin, TX · Member since 2018 · 164 posts · 107 votes
6y
@Blake Choisnet nice, congrats ! Looking forward for hearing what market in TX and now you found the deal!
0 Reply
Brian G.
Rental Property Investor · Los Angeles, CA · Member since 2013 · 1k+ posts · 1k+ votes
6y
@Blake Choisnet that’s my favorite kind of Cow! Congrats and way to go.
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Account Closed
OP
Rental Property Investor · Tyler, TX · Member since 2019 · 72 posts · 39 votes
6y
Originally posted by @Percy Matsunaga:
@Account Closed
Super awesome job!! Btw what city in Texas are those properties?
definitely would like to know what strategy you use to obtain those properties.
Drive for $$?
mailing list?

The property is in Abilene - I got this one from a wholesaler.

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Account Closed
OP
Rental Property Investor · Tyler, TX · Member since 2019 · 72 posts · 39 votes
6y
Originally posted by @Brian Megilligan:
How much were you personally involved with the rehab and oversight of this deal? Could a guy with a full time job have pulled this off? You must have had a solid contractor.

Hey Brian, I wasn't active in the rehab process but focused on keeping the contractors accountable to budget, timeline, and quality. I did all of this with a full time job. Feel free to PM me to talk about details if it'd be helpful.
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Dan Mcguire
Real Estate Agent · Shoreham, NY · Member since 2016 · 96 posts · 44 votes
6y
@Blake Choisnet how far away from the properties are you? Being on Long Island Homes are not selling for $20k or in any zip code under 200k unless very undesirable location with massive amounts of work.
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Account Closed
OP
Rental Property Investor · Tyler, TX · Member since 2019 · 72 posts · 39 votes
6y
Originally posted by @Dan Mcguire:
@Blake Choisnet how far away from the properties are you? Being on Long Island Homes are not selling for $20k or in any zip code under 200k unless very undesirable location with massive amounts of work.

I'm about 4 hours away. I do everything remotely. I found that once I moved out of the market I lived in, I could pick the market that was best for the numbers I wanted. PM me if you want to talk.

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