BRRRR Single Family Home Lebanon, TN

[Anthony Phillips]

Investment Info:

Single-family residence buy & hold investment in Lebanon.

Purchase price: $235,000
Cash invested: $15,000

Single family home purchased for 235k. Put 15k for the rehab. House appraised for 325k. I cashed out 250k with a cashout refi.
The property currently cash flows $250 per month and is financed with a commercial lender.

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

House was in need of rehab and a distressed seller so I was able to secure the deal 15k under asking price.

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

On the MLS

How did you finance this deal?

Cash buy and after rehab switched to a loan with a local commercial lender.

How did you add value to the deal?

2 Bathroom renovations and paint throughout the house

What was the outcome?

A successful brrrr and cash flowing property

Lessons learned? Challenges?

Try to find all contractors right when the deal closes. Get multiple bids. Order a dumpster for trash out