SFR in Hilo, HI REO to BRRR

[Paradis Reed]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $168,000
Cash invested: $105,000
Sale price: $400,000

Decided to BRRR this house, renovated inside and out. Great location and now with minimal cap X hoping to find great renters for the long term and someday perhaps cash out for college funds.

What made you interested in investing in this type of deal?

REO and forced equity, great location near UH. Fantastic contractor.

How did you find this deal and how did you negotiate it?

Hubzu

How did you finance this deal?

Cash in and refi out after renovation. All cash in pulled out plus.

How did you add value to the deal?

Complete renovation, mostly sub out to a GC but I handled some of the renovation myself

What was the outcome?

Now property is worth 400K, rent will cover cost and inf ROI :)

Lessons learned? Challenges?

Complete renovations are challenging however when you are finished, you know you have a solid product that will last.