SIngle Family BRRR #2 in North Charleston, SC (2021)

[Brandon Bartley]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $96,000

Single family BRRR in Waylyn Neighborhood of North Charleston. Purchased for $96,000 with $55,000 in rehab. Purchase price and rehab financed through a local hard money lender. Appraised at $250,000 and refinanced at 70% LTV, with no cash out of pocket after the refinance. Rented for $1,800 to a long term, Section 8 tenant.

How did you finance this deal?

Local private money lender financed purchase and rehab

How did you add value to the deal?

$55,000 in rehab including new roof, HVAC, kitchen, full bathroom update, flooring and paint. Also added a bathroom and bedroom to make it a 4 bed/2bath home