First Successful BRRRR

[Richard Bradshaw]

After I spent all my money I had saved to invest in a "turnkey" duplex as by first deal, I was left broke once again with no money for my next deal. Obviously I was not as educated as I thought I was. I began to read and research more and found bigger pockets. The second or third webinar I watched was about the BRRRR. Right away I knew this would be the method I would use to quickly acquire cash flowing, equity rich properties.

After a couple months on research and networking, I found a HML and a deal, I was off to the races. I did most the work on my own, minus all plumbing and HVAC work. I painted entire house, new carpet on main floor, original hardwoods upstairs, renovated bathroom, new counter in kitchen, new water heater, AC unit and Gas heat.

Purchase - $37,000

Closing - $5,000

Rehab - $8,000

Total Cost - $50,000

ARV - $75,000

Refi - $56,000 (Pulling out cash to build capital) 

Rent - $900

Expenses and debt payoff - $565

Vacancy and Cap Ex - $180

Cash flow - $155

Thanks for looking guys! Already purchased my next BRRRR project!