First BRRRR Deal (Southern Brazoria County, TX)

[Cory LaChance]

Pretty Excited about getting my first BRRRR deal under my belt!

bought a 3/1 1100sf SFR in a class C neighborhood for $30K. The house was on the MLS for a few months with very little traffic. As soon as I stepped into the house I knew it was the one I've been looking for. The house smelled and looked terrible, but as I dug a little deeper, I found that it was in pretty decent structural and mechanical condition. New PVC plumbing throughout, newish HVAC system and electrical. Fast forward 2.5 months and $20K in rehab & holding costs, I have a house that is worth around $80K and renting for $1,100 a month. I am going to start the refinance stage this week. I'll keep everyone posted as to how that goes.

Here are a few Before & After Pics.

Added 900 SF of sod.

New CabinetsTook out load bearing wall and replaced with structural beam.Laundry/Linen ClosetBathroom

[Cory LaChance]

Thanks, @Luis Regla! I still have that property. I have since put a new roof and an AC unit. If I had to do it again I would have replaced those items during the rehab. Lesson learned... 

I have used the BRRRR strategy on 3 other deals and have since opened a line of credit with a local bank am working to acquire higher end properties. This past year has been very exciting!