First BRRRR complete

[Kyle Robarts]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $78,000
Cash invested: $50,000

3/1 SFH, 1688 SQ Feet
Adding:
• HVAC
• New Roof
• Second Bathroom
• Interior Pain
• New Flooring in every room but living
• Minor floor leveling

Renovation completed April 2021.

Rented for $1,695/month

Appraised for $175,000

Refinanced loan was at 3.875 percent over 30 years - left only $6,000 in the deal ... Cash flow after CAPEX (20 percent), mortgage, taxes and insurance is at $275.00.

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

BRRRR - positive cashflow

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

Real Estate agent brought it to us based on our strategy

How did you finance this deal?

Private money loans, personal loans and HELOC for rehab.

How did you add value to the deal?

Converted 3/1 to 3/2. Renovated kitchen and original bathroom. New roof, new flooring, added HVAC.

What was the outcome?

Great BRRRR so far - I know they won't all be this easy.

Lessons learned? Challenges?

Staying on contractors until completion. The house seemed to look the same to me the final 3-4 weeks of renovation. Learning to be tougher and setting deadlines. Won't buy used appliances anymore have had two already go out.

[Andrew Syrios]

Congrats Kyle!