Updated over 6 years ago on . Most recent reply
Plan to BRRR - Indianapolis, IN
Investment Info:
Single-family residence buy & hold investment in Indianapolis.
Purchase price: $26,500
Cash invested: $21,500
It looked like, at the time, we could get $700 for rent for a 2/1 in the area. The unit just rented at $740 and has an ARV of about $59000with an investment of $48000.
List of repairs: New floors, Added fence, repair/replace windows, new paint, new bathroom, new counter tops, and a bunch of little one offs, plus appliances.
Check out the end result here: https://www.zillow.com/homedetails/10049-Hawkins-Ct-Indianapolis-IN-46229/1233268_zpid/
What made you interested in investing in this type of deal?
I want to buy and hold. I can't afford houses in my area, so I decided to take my money to where it can work better.
How did you find this deal and how did you negotiate it?
Auction.com
How did you finance this deal?
Cash.
How did you add value to the deal?
Rehab.
What was the outcome?
Rented for $740/month
Lessons learned? Challenges?
Time is critical.