Updated over 2 years ago on . Most recent reply
BRRRR Deal in NJ
Investment Info:
Single-family residence buy & hold investment in Ocean Gate.
Purchase price: $185,000
A buy and hold BRRRR deal used as a long term rental.
What made you interested in investing in this type of deal?
This was my first investment property which was purchased using a HELOC against my primary residence which was later cash out refinanced using delayed financing.
How did you find this deal and how did you negotiate it?
Off market deal utilizing my network.
How did you finance this deal?
HELOC which was later cash out refinanced.
How did you add value to the deal?
Rehab- siding, kitchen, paint.
What was the outcome?
BRRRR deal with long term tenants in place.
Lessons learned? Challenges?
This deal sparked my passion for real estate.