Contractor · Loveland, CO · Member since 2016 · 18 posts · 14 votes
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $65,000 Cash invested: $24,000
BRRRR owner financed, we provided repair funds. We did an extensive renovation and the ARV is right at $200K
Being professionally managed, $830/mo after all costs including 20% taken out for repairs and Cap Ex.
What made you interested in investing in this type of deal?
Bigger pockets!
Also familiarity with the area and market
How did you find this deal and how did you negotiate it?
Knew the owners and were made aware of their desire to sell.
They had cash offers under our agreed purchase price, but we paid more if they agreed to hold the note.
How did you finance this deal?
Owner financed, credit cards and cash!
How did you add value to the deal?
full remodel.
What was the outcome?
Beautiful, fully renovated investment property. We will do a cash out refinance in the spring, after seasoning, and use the proceeds to buy another!
@Grayson Lynum that is an amazing spread - from 64k to 200k! I have been BRRRRing for over a decade in Milwaukee and I have never had a spread like this on a single family!
Do you have a time machine? This looks like what I paid for properties in 2012 and appraised them for in 2020 LOL