BRRRR in Akron Ohio

[Michael Magno]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $30,000
Cash invested: $18,000

BRRRR in Akron Ohio. Bought this from a local wholesaler. Paid cash, seller was behind on the taxes. I will spend around $18k on the rehab, and should be able to pull $5k-$10k out on the REFI! WOOT!

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

I buy in this neighborhood already.

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

A local wholesaler brought me the deal.

How did you finance this deal?

Paid with cold hard cash.

How did you add value to the deal?

Rehab the bathroom, new flooring, new paint, new light fixtures, cleaned up the landscaping.

Lessons learned? Challenges?

The seller was a bit of a hoarder. It was a lot more expensive than I thought to trash out the house.