BRRR In Pittsfield Ma

4 Replies

Investment Info:

Single-family residence buy & hold investment in Pittsfield.

Purchase price: $23,000
Cash invested: $25,500

Purchased, rehabbed and refinanced cashing out $26k to account and adding $585/ month net to income.

What made you interested in investing in this type of deal?

Easy quick exit and adding to cashflow

How did you find this deal and how did you negotiate it?

wholesaler, contract with owner expired and i was able to deal directly with owner.

How did you finance this deal?

Private Lender

How did you add value to the deal?

completely remodel, rented top of market

What was the outcome?

Cashed out $26k into account and added $585/ month net to income

Lessons learned? Challenges?

appraisals can slow process down dramatically. Set back refi just over 2 weeks.

Nice, @Vince Leydet , some excellent deals you're doing! 

Hmmm sorry, started this once, and it went blank so I don't know if this is the second one I'm sending!!

Anyway, Im also working in Pittsfield and always like to compare notes.  If you might want to do a meet up at some point, let me know, and if you know others, landlords, investors that like that idea tell them.

cheers

@Vince Leydet This is too funny.

How did you find this deal and how did you negotiate it?

wholesaler, contract with owner expired and i was able to deal directly with owner.

I showed you this deal you said you wanted it and basically ignored all my calls, texts, and emails until the contract finally expired then you went back to the house and spoke to the owner.

This business is about building relationships good luck.

@Pablo Ottenwalder Jr. The contract expired with a female wholesaler who couldn't make the numbers work.   She passed along the contact info for a referral fee once her contract expired.   Yes I looked at the property with you but numbers weren't working out.  Hope that clears it up for you. 

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