My Most Recent BRRRR Townhouse in Mesa

[Josh Young]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $200,000
Cash invested: $48,000

Bought for $200k with 10% down private money loan and put about $22k into the rehab, new floors, paint, appliances, fixtures, and artificial turf.

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

This was a perfect little project that didn’t need too big of a rehab, but enough to really to look nice.

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

This was an off market deal from a reputable wholesaler who I’ve bought from before. I didn’t negotiate, it was a good enough deal that it would definitely sell same day so I jumped on it.

How did you finance this deal?

A private money loan with 10% down and I paid cash for the rehab.

How did you add value to the deal?

I spent about $22k on new floors, paint, scraped the popcorn ceilings, new appliances, new fixtures, and artificial grass.

What was the outcome?

It took about 6 weeks to finish the rehab and 2 days to get it rented out. I’m working on the refinance now and should have that done next week.

Lessons learned? Challenges?

I did some of the work myself, which really enjoyed, but took me a little longer than I thought I did take away from some other things I had going on, so I’ll probably hire out more of the work next time.

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

I’m an agent myself and love helping others with these type of projects; my wholesaler, private money lender, contractor and refinance loan officer are all superstars!