Hurricane brrrr in Panama City Fl
Investment Info:
Single-family residence buy & hold investment in Panama City.
Purchase price: $36,000
Cash invested: $49,000
We purchased this Hurricane damaged house using excess cash from our previous Brrrr refinance of a duplex. This house had a solid foundation and good tile flooring that was about it. We converted from a 1-1 to a 2-1 and basically repaired everything plumbing, electric, roof .... you name it we had to do it! Turned out great and is a solid cash flow property for us
What made you interested in investing in this type of deal?
Looking for passive income through brrrr. Also fixing up my hurricane ravaged home town
How did you find this deal and how did you negotiate it?
I found the owner on my property appraisers website. Purchased multiple properties
How did you finance this deal?
Cash
How did you add value to the deal?
Completely remodeled and updated
What was the outcome?
Great cash flowing perfect brrrr
Lessons learned? Challenges?
Don’t purchase in an llc if you plan on being your own general contractor 😬
