Updated 1 day ago on .
Buy and Hold Deal
Investment Info:
Single-family residence buy & hold investment in Laguna Hills.
Purchase price: $154,000
Cash invested: $184,000
BRRRR method. Bought in bad shape for $154,000 and renovated the entire property for $30,000. The property has an ARV of $230,000 but rents for $1,800 monthly with no mortgage and no vacancy.
What made you interested in investing in this type of deal?
The margins were significant.
How did you find this deal and how did you negotiate it?
A past client referred the homeowner to me. We took out the owner with "as-is" cash offer.
How did you finance this deal?
All cash.
How did you add value to the deal?
Completed a full renovation of the interior and painted the exterior.
What was the outcome?
The property has an appraised value of $230,000 and generates cash flows of $1,800 per month, with no mortgage payment or HOA expenses.
Lessons learned? Challenges?
Subs are challenging to manage, and people often fail to show up when they say they will. Have your network in place first.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a Florida real estate broker.
