Investment Info:

Single-family residence buy & hold investment.

Purchase price: $85,000
Cash invested: $95,000

I purchased this Single Family Home in Warner Robins through a wholesaler that I first located on Bigger Pockets Marketplace. On paper the ARV of this property is approximately $125k, but I was able to purchase the property for $85k plus closing costs.

I estimate that I will need to put approximately $20k into renovations (there is a serious plumbing problem, the roof and HVAC need love.) including dressing up the landscape.

Once rent ready, average rents for the area are in the arena of $1200/month. Upon 6 month seasoning, I plan on refinancing the majority of my cash out.

Once we are stabilized, I will update the performance of this asset.

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

I found a property on the BP Marketplace that showed a ton of potential. I typically do not pursue Single Family properties, but I had cash that needed to be deployed and this should be a quick turn around and then a nice cash flowing property.

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

I first found this property on the BP Marketplace listed by a wholesaler.

I connected with the wholesaler and negotiated a fair price based on the needed repairs and the urgency of the seller.

How did you finance this deal?

I paid cash for this property with the intention to BRRRR.

How did you add value to the deal?

I am replacing the roof, soffits, and fascia. Repainting trim work outside. Refresh landscaping.
I will also be replacing the HVAC. Finally, there is a major plumbing issue that will need to be corrected immediately.

What was the outcome?

Time will tell how this all works out.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with a wholesaler on the purchase of this property. I negotiated it myself and used the wholesalers closing attorney. Once I was under contract, I hired a property manager and have been working closely with them to help manage the renovations and our objective is to get the property rent ready within 30 days.