Single-family residence buy & hold investment.
Purchase price: $62,000
Cash invested: $3,000
Single family BRRRR in Indy in the Bean Creek neighborhood.
Very solid deal. How’d you only invest 3k?
So I ended up purchasing this for 62k - then immediately placing a lien on the property for ~82k. I was shooting for this because I wanted to be at 75% of ARV. Went to my long term lender and he was able to appraise it at 110k - which satisfied the lien of 82k. I purchased for 62k, put in about 19k, got that back after I refinanced with my long term lender. I put 3k as I like to put some cash on the side as reserves :)
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