First BRRRR in Augusta

[Michael Marchman]

Investment Info:

Single-family residence buy & hold investment in Augusta.

Purchase price: $60,000
Cash invested: $70,000

First BRRRR property

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

I want to scale significantly in the rental aspect of real estate to create more passive income

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

Found it on Zillow and had an agent make an offer for me.

How did you finance this deal?

Used the cash I made on my first flip and paid cash

How did you add value to the deal?

I did the rehab myself. Kept the old cabinets, sanded and painted them. Re-surfaced the original hardwood floors.

What was the outcome?

Currently waiting on the appraisal for the cash out refi

Lessons learned? Challenges?

Finding a quality tenant can take longer than expected. It's important to be patient and not to lower your standards.