Updated over 4 years ago on . Most recent reply
SFH - Allegheny West Philly - BRRRR
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $50,000
Cash invested: $34,000
Contributors:
Jon Sanborn
Our Team's third property purchased! This is a big SFH (big for parts of Philly) at 1,320 sq ft. The neighborhood is Allegheny West, 19132 - There is a ton of new development nearby, which excites us! Our plan is to BRRRR this property. Not sure if we can pull everything out, but we hope to be close. The rehab only took 2 months, which was quick for us! Starting the tenant search process next week, and then looking to refinance.
How did you finance this deal?
This was the first deal that we've purchased from a wholesaler, and it went super smooth!
What was the outcome?
We expect this to cashflow $62/mo after all expenses accounted for. Not a home-run, but hitting singles / doubles will get us to our goal! Small bricks build big houses :)
Most Popular Reply
@Alex Capozzolo Nice work! Yes the city is a pain to deal with, but those are healthy numbers. Only leaving $3k in a deal is great in this market.
I have heard similar stories about TCS. They are fine, but not great. Seems like you are a number to them, especially if you don't have a large portfolio. Give @Kevin M. a call, I have a client that works with him and has been very happy.