Basement wall falling in so we got a great deal

[Jessica Roland]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $10,000
Cash invested: $17,000

This was a BRRR property that we got for $10,000 cash as one of the basement walls was falling in and there was a ton of mold in the bathroom and back entryway. After purchasing, we noticed the neighbor getting their basement fixed and talked to the worker, he quoted a great price to reblock the wall and did a terrific job. Got the house rented, refinanced, and used the money to buy another rental and finish rehab on another house.