My first BRRRR Attempt

4 Replies

Investment Info:

Single-family residence buy & hold investment in Watertown.

Purchase price: $84,000
Cash invested: $21,000

My current project in Watertown, WI is my first attempt at BRRRR. Renovations are happening and I am very excited to get this first rental out on the market.

Promotion
BiggerPockets
The one-stop-shop for REI
Find Local Home Improvement Pros!
Check out our network of trusted, local contractors for all of your home improvement projects.
Find a Contractor

@Kris L., I took out a loan for the initial purchase since I did not have the cash.  I am working this deal with my cousin who is managing the rehab.  Since I am in CA, it's nice to have trusted hands on the ground.

@Luke Aubut, the property initially appraised at 100k and I am hoping (based on carefully selected comps in the area) to apppraise around 150k after the rehab.  Fingers crossed!

@Muris Mulalic, thank you!  It is very exciting to finally be working on my first deal.  Been dreaming of this for years.  I have been searching the Southern WI area for deals for about 6 months.  I searched for areas with lots of blue collar industry and high rents.  The community that I purchased in is very family oriented, which is a demographic that I hope to attract.  

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you