BRRRR project turned 1031

[Nicole Dechow]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $103,000
Cash invested: $3,000
Sale price: $185,000

This was a BRRRR project that we bought from Craigslist. We painted and put new floors in the kitchen. We found great tenants and only decided to sell to do a 1031 exchange.

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

We liked the location and the house was in good condition.

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

Craigslist

How did you finance this deal?

Private money then refinance into a portfolio loan.

How did you add value to the deal?

Painting and flooring.