BRRRR Jacksonville Florida
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $31,000
Cash invested: $31,000
I just bought this house to reno and refi, BRRRR. It is a 4/1 to become a 4/2. It is near some of my other properties. This one has dragged on for 3 months. I was finally able to close once the fines were resolved, they have been waived. I need to visit the city to inform them I have purchase the house and they will reset all of the violations dates. The house sale has not yet been recorded by the city. If I am going to want to start the Reno project I need them to lift the flag. I have ordered a power safety inspection. JEA requires an inspection for any house that has not had power in over a year.
What made you interested in investing in this type of deal?
I am focused on adding properties to my portfolio and using the BRRR strategy.
How did you find this deal and how did you negotiate it?
It came through a wholesaler I work with
How did you finance this deal?
Cash - I will fund the reno and refi my money out
How did you add value to the deal?
I will add an additional bathroom.
What was the outcome?
Just getting started
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I recommend using Lesley Resnick as an agent!!!! :-)
Most Popular Reply
Looking forward to following another one of your projects! Any idea on renovation costs and ARV?