My First Rehab finished--Arlington VA

[Nick Mullen]

Hey All,I just completed my first remodel on a 2B/1.5Ba in Arlington VA! Here's the bullet points:

Purchase Price: 370K

10% downpayment

Seller financing at 2% ammort over 30 years, ballooning in 2. I get traditional financing after that

I Invested 75K into the rehab, which turned the unit into a 3B/2.5Ba

ARV is +-475K

It is renting at $2900/month

I think I got a great deal on the purchase of the property, and and hopeful to find the next deal soon. Perhaps this will eventually be a BRRRR property. I'm not quite sure yet. I welcome any questions comments feedback or the like.

Thanks! I'm so happy BP is here

Cheers, 

Nick

[Account Closed]

Amazon HQ2 coming to the area soon, hold it for a few years to get price and rent appreciation.