1st Deal in the Books!

[Justin Bowling]

Investment Info:

Single-family residence buy & hold investment in Terre Haute.

Purchase price: $35,000
Cash invested: $13,000

This was a BRRRR deal done on cash. Cashflow is real cashflow with all expenses paid.

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

I found this deal through another real estate investor who was wholetailing the property.

How did you finance this deal?

I bought this deal cash and fixed with cash as well, then refinanced my cash back out at the end.

How did you add value to the deal?

We painted everything inside and out, added new LVT floors throughout the house, and new doors.

What was the outcome?

Ended up being a pretty great BRRRR deal, I have only $3000 of my cash left in the property and cash flowing $250/month (pure cashflow) so I should get all my money back in one year.

Lessons learned? Challenges?

It takes way longer than expected to get certain renovation items done.
This was out of town by about 1.5 hours, the travel time really took more of a tole on productivity than expected.