Amazing BRRRR deal with no work done!

[Jerrod Rosen]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $675,000
Cash invested: $65,000

Negotiated our way into an awesome BRRRR deal without having to do any of the work ourselves. When I toured the property I noticed it was a flip and very well done but sitting on the market for a few months. Reached out to the agent and negotiated them to build an extra bedroom onto the property where the carport was located and redo the pool. After they finished the work, we closed in cash and then immediately did a refi after we had an Airbnb arbitrager fully furnish and add a hot tub. It appraised for well over the purchase price even in a down market and we have it rented now for well over market rent because of the arbitrage.

https://www.airbnb.com/rooms/1395841354484550614?guests=1&adults=1&s=67&unique_share_id=6e62e1e2-41d2-479a-b72b-524a18af12da

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

We had an operating STR in Phoenix and have had good luck with it so when I saw the prices falling in Scottsdale I jumped on a deal.

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

On market deal, I have my license in Colorado but not Arizona so needed an outside broker to help negotiate.

How did you finance this deal?

Private cash into DSCR refi.

How did you add value to the deal?

Had the Seller add all of the value in negotiations.

What was the outcome?

Fantastic so far.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

George Mevawala is the best broker in Phoenix, please mention my name or ask me to help connect you.