Updated about 4 years ago on . Most recent reply
BRRRR with Private Money = Infinite return
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $99,000
Purchased this property from a wholesaler under value.
Purchase price - $99,000
Rehab estimate - less than $20,000
Total invested - $119,000
ARV - $170,000
I will BRRRR to pull out my entire investment (purchase + rehab costs).
Instant equity from day 1.
What made you interested in investing in this type of deal?
The instant equity prior to renovations
How did you find this deal and how did you negotiate it?
It was brought to me by a wholesaler. We've built a relationship over the past year before I purchased from him. Relationships matter.
How did you finance this deal?
Private money for purchase and rehab then will BRRRR.
How did you add value to the deal?
Renovations. Nothing major, it needed updating and some TLC
What was the outcome?
Still in progress...
Lessons learned? Challenges?
Never stop building relationships even if you think you have enough. It's a continuous process.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No
