
Buy & Hold | Apr 2020 – Present
Single-family residence – 3787 Barberry Road, Memphis, TN, 38128
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Purchase price: $57,000.00
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Cash invested: $9,000
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Monthly cashflow: $529.00
This amazing deal was my first and BRRRR. It was brought to me by a wholesaler I met on … wait for it… Bigger Pockets! It was purchased all cash and I was all in for $72k after paying $15k for rehab costs. The appraisal came back at $90K and I refinanced at 75% LTV receiving $67,500 in return. In 2020 Rent was $900, today it’s $1,200 and is a cash flow king! COVID slowed things down, the refi process took 9 months with an additional $4,000 in expenses but persistence pays off!
The current Zestimate for this property is $134,000.