SFH brrrr in Memphis
Investment Info:
Single-family residence other investment in Memphis.
Purchase price: $70,600
Cash invested: $87,500
My first brrrr deal!
What made you interested in investing in this type of deal?
So that I could try to scale faster by using the BRRRR method.
How did you find this deal and how did you negotiate it?
My realtor in Memphis, listed at $75,600, offered $70,600 cash.
How did you finance this deal?
LOC.
How did you add value to the deal?
The rehab just started. The contractor just got funds from escrow yesterday.
What was the outcome?
The rehab will take approximately 3-4 weeks and then I will cash out refi and then rent it out.
Lessons learned? Challenges?
This is my first brrrr.... I will update if/as things come up. I am just hoping that the rehab goes smoothly, and I will be able to get most if not all my capital back so that I can repeat the process.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Tyler Tapley has been amazing to work with! He is my realtor. I am working with Security National Mortgage for my cash out refi, Aaron Chapman's entire team has been so helpful and quick.