First BRRRR in Fayetteville, NC complete!
This is my third property in Fayetteville, NC but my first BRRRR. Pictures were taken two days ago and I will post them as soon as I have them.
Rehab included:
Electrical upgrade and HVAC installation: $8300
Hooking up to city sewer: $500 (split with agent because they made a mistake during DD)
Paint and general rehab(floor, plumbing, electric, fans, etc.): ~$12000
Will be renting out for $800 to $850, and after refi. will be cashflowing between $190-$245 pending appraisal, LTV%, interest rate, and rent amount.
Goal: Complete one more BRRRR before moving across the country in May 2020, second test of RE investing system.
Most Popular Reply
Great job! That is exciting that you were able to try out a BRRRR and have it succeed! I am hoping to move to NC in the next few years and it is good to see success stories down there.